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Arkan’s net profit dips to AED 46m in 2019

Arkan’s net profit dips to AED 46m in 2019
Revenues amounted to AED 902.436 million
Arkan
ARKAN
-0.84% 0.47 -0.00

Abu Dhabi – Mubasher: The net profits of Arkan Building Materials Company dropped to AED 45.682 million in 2019 from AED 53.460 million in 2018, as shown by the company’s preliminary unaudited financials for the year ended on 31 December 2019.

The company’s revenues amounted to AED 902.436 million in 2019, down from AED 967.634 million in the earlier year due to lower average selling prices caused by intense market competition.

Meanwhile, the earnings per share (EPS) stood at AED 0.026 last year, compared to AED 0.031 in 2018.

It is noteworthy to mention that during the first nine months of 2019, Arkan’s net profits rose to AED 36.13 million from AED 10.20 million in the year-ago period.