Abu Dhabi – Mubasher: Sharjah Cement and Industrial Development Co. (SCIDC) posted a 131.1% growth year-on-year in its profits during the third quarter of 2016, according to a bourse filing.

Profits amounted to AED 11.23 million ($3.06 million) in Q3-16, compared to AED 4.86 million ($1.32 million) in Q3-15.

In the first nine months of 2016, profits increased 7.8% to AED 40.42 million from AED 37.48 million in the corresponding period of 2015.

Sales rose 4.7% to reach AED 496.2 million as at 30 September 2016, compared to AED 474.02 million in the same period of 2015.