Abu Dhabi – Mubasher: Sharjah Cement and Industrial Development Company reported a net loss of AED 9.3 million during the first quarter (Q1) of 2020, versus AED 802,000 in net profits for the same period of 2019.

The company's revenues reached AED 128.163 million in Q1-20, down from AED 153.114 million in the year-ago period, according to the company's consolidated interim financial results for the three-month period ended on 31 March 2020.

The basic and diluted earnings per share (EPS) stood at AED 0.015 in the first three months of 2020, compared to AED 0.001 in the corresponding period of 2019.

It is noteworthy to mention that in 2019, the company's net profits plunged by 73% to AED 8 million from AED 29.4 million in 2018.