Mubasher: Sharjah Cement and Industrial Development Co registered a plummet of 54.6% in profits during fiscal year 2018 compared to the previous year, according to a bourse disclosure on Sunday. 

Earnings declined to AED 29.4 million in FY18 from AED 64.78 million in FY17. 

Revenues also decreased to AED 596.8 million in fiscal year 2018 compared to AED 650 million in the prior year. 

It is noteworthy that Sharjah Cement is listed on both the Abu Dhabi Securities Exchange (ADX) and Boursa Kuwait.