Abu Dhabi – Mubasher: Ras Al Khaimah Co. for White Cement and Construction Materials (RAK Cement) has reported a 14% year-on-year increase in its profits for the first quarter of 2019.

Total profits reached AED 9.6 million ($2.61 million) in the first three months of 2019, versus AED 8.4 million ($2.28 million) in Q1-18, according to a statement to the Abu Dhabi Securities Exchange (ADX) on Thursday.

Revenue surged to AED 65.24 million in Q1-19, versus AED 53.2 million in the year-ago period, RAK Cement added.

Operating profit increased to AED 11.4 million in the January-March period of 2019 from AED 10.3 million in the prior-year period.

Earnings per share (EPS) remained flat at AED 0.02 in Q1-19 as compared with Q1-18, the company pointed out.

The company’s total assets amounted to AED 1.021 billion at the end of March, compared to AED 1.03 billion in the same quarter of 2018.

In 2018, RAK Cement reported a 57% year-on-year plunge in net profit, logging AED 13 million.