Abu Dhabi – Mubasher: Ras Al Khaimah Company for White Cement and Construction Materials (RAK White Cement) recorded net profits of AED 21.08 million in 2022, down from AED 32.87 million a year earlier.

The UAE-based firm witnessed an annual growth in revenue to AED 247.66 million during the 12-month period that ended on 31 December 2022, compared to AED 239.80 million.

Earnings per share (EPS) stood at AED 0.04 last year, versus AED 0.07 in 2021, according to the initial financial results.

Meanwhile, the total assets hit AED 882.18 million in January-December 2022, lower than AED 963.05 million in 2021.

Last September, the board of RAK White Cement granted its approval for delisting the company’s shares from Boursa Kuwait.

In the first half (H1) of 2022, the company’s net profits attributable to the shareholders amounted to KWD 1.41 million, up 22% year-on-year (YoY) from KWD 1.16 million.