Dubai – Mubasher: National Cement Company (NCC) on Thursday reported a 62.7% year-on-year decrease in net profits for the second quarter of 2018, registering AED 4.56 million ($1.24 million), from AED 12.23 million ($3.33 million).

In the first six months of 2018, the firm’s profits fell 23% to AED 35 million, compared to AED 45.41 million in H1-17, according to a statement to the Dubai Financial Market (DFM).

The cement producer attributed the first-half profit decline to a 5.7% drop in profit margin, along with higher selling, administrative, and general expenses, recording AED 22.9 million.