Abu Dhabi – Mubasher: Gulf Cement Co registered a drop of 17.7% during the third quarter this year as compared to the same period a year ago.

Earnings shrank to AED 13.20 million ($3.59 million) in Q3-16 from AED 16.03 million ($4.36 million) in Q3-15, according to a bourse statement issued on Thursday.

Gulf Cement, which is listed on both KSE and ADX, reported profits worth AED 30.94 million in the first nine months of 2016, 34.1% lower from AED 46.92 million in the corresponding period of the prior year.

Revenue decreased by 13.1% to AED 423.64 million in nine months as compared to AED 487.25 million in the same period of 2015.