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RAK Cement turns profitable in Q1

RAK Cement turns profitable in Q1
Photo Credit: Arabianeye-Reuters
Apex Investment
RAKCC
-1.06% 1.87 -0.02

Abu Dhabi – Mubasher: Ras Al Khaimah Cement Company reported a net profit of AED 3.9 million in the first quarter of 2015 against AED 1.06 million in losses in the same period in 2014, according to a filing to the Abu Dhabi Securities Exchange (ADX).

Revenues grew 8.6% to AED 61.14 million against AED 56.28 million in Q1-14.

The cement firm’s revenues from investments surged to AED 1.9 million compared to AED 1.52 million in the same period the year before. Selling expenses were down 10.6% to AED 4.203 million.

The company’s shareholders in March approved a 5% cash dividend, amounting to 5 fils per share and totalling AED 28.95 million for 2014.