Abu Dhabi – Mubasher: Sharjah Cement and Industrial Development Company posted on Tuesday a 4.1% decrease in its profits for the fourth quarter of fiscal 2016 to AED 23.62 million, versus AED 24.62 million for Q4-15.

Net profit for fiscal 2016 amounted to AED 64.04 million, 3.1% down from AED 62.1 million for fiscal 2015, according to a bourse filing.

Shareholders equity reached AED 1.40 billion in 2016, versus AED 1.39 billion in 2015.

Revenues decreased in 2016 to AED 612 million from AED 639 million for 2015.