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RAPCO initially approves plot change

RAPCO initially approves plot change
Photo Credit: Arabianeye-Reuters
RAPCO Investment
RAPCO
-1.18% 1.68 -0.02

 

Abu Dhabi – Mubasher: Ras Al Khaimah Poultry and Feeding Co. (RAPCO) said its board has approved the proposal by Al Hamra Real Estate Development to give the company a 240,600 square-foot plot in Al Murjan Island instead of another plot in Al Hamra, according to a filing to the Abu Dhabi Securities Exchange (ADX).

The feeding firm previously reported a net profit of AED 12 million ($3.27 million) in the first half of 2015, registering a sharp decline of 49.16% from AED 23.8 million ($6.48 million) in the corresponding period in 2014.