Abu Dhabi-Mubasher: Gulf Cement Company reported net profits of AED 24.54 million ($6.7 million) in the fourth quarter of 2015, against losses of AED 13.3 million ($3.62 million) in the same quarter of 2014, according to a bourse filing on Thursday.

Profits reached AED 71.44 million ($19.45 million) in the fiscal year 2015, a decline of 18% from AED 60.57 million ($16.49 million) in the fiscal year 2014.

The board recommended 7% cash dividends or AED 0.7 per share payout for the fiscal year 2015, totalling AED 57.49 million.