Abu Dhabi – Mubasher: Ras Al Khaimah Cement (RAK) on Sunday reported a 21.2% year-on-year drop in the first nine months period of 2017.

Net profit amounted to AED 212,470 ($57,830) in the nine-month period ended September, versus AED 7.8 million ($2.12 million) in the prior-year period, the company highlighted in a filing to the Abu Dhabi Securities Exchange (ADX).

Revenues declined 12% to AED 150.07 million from AED 170.32 million in the corresponding period last year.

Sales decreased 5.15% to AED 137.28 million in the nine-month period.

RAK had previously posted that it turned to losses in the first half of 2017, achieving AED 2.12 million from AED 7.03 million in H1-16.