Abu Dhabi – Mubasher: Ras Al Khaimah Ceramics (RAK Ceramics) posted a 78.1% year-on-year decrease in its profits during the third quarter of 2016, according to a bourse statement.

Profits reached AED 18.23 million ($4.96 million) in Q3-16, compared to AED 83.19 million ($22.64 million) in Q3-15.

In Q3-16, operating profits fell 64% to AED 36.35 million from AED 101.08 million in Q3-15.

The company generated profits of AED 149.41 million in the nine-month period of 2016, down 34.7% from AED 228.78 million in the same period of 2015.