Abu Dhabi – Mubasher: Ras Al Khaimah Ceramics (RAK Ceramics) posted a plunge of 48% in net profits during the first quarter of 2019 compared to the same period last year.

Net profits shrank to AED 29 million in Q1-19 from AED 56 million in Q1-18, according to a bourse statement on Thursday.

RAK Ceramics registered a decline in sales during the first three months of 2019 to AED 620.3 million, compared to AED 661.8 million in the corresponding period last year.

Revenues and other revenues also decreased by 6% to AED 10.9 million from AED 43.2 million in Q1-18.