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NCC shifts to net profits in Q3, 9M-23

NCC shifts to net profits in Q3, 9M-23
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National Cement
NCC
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Dubai – Mubasher: National Cement Company (NCC) turned to net profits of AED 50.34 million in the first nine months (9M) of 2023 from a net loss worth AED 20 million in 9M-22.

NCC’s revenues grew year-on-year (YoY) to AED 135 million in 9M-23 from AED 98.05 million, according to the financial statements.

Basic and diluted earnings per share (EPS) reached AED 0.14 in January-September 2023, against a loss per share of AED 0.06 a year earlier.

Total assets increased to AED 2.17 billion at the end of September 2023 from AED 1.83 billion as of 31 December 2022.

Positive Shift in Q3-23 Financial Results

During the third quarter (Q3) of 2023, the listed company also swung to net profits of AED 9.92 million, versus net losses of AED 9.07 million in the same period of 2022.

The revenues rose to AED 49 million in Q3-23 from AED 29.90 million in Q3-22. Meanwhile, the basic and diluted EPS stood at AED 0.03, against a loss per share of AED 0.03.