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Sharjah Cement turns into profitability in 2023

Sharjah Cement turns into profitability in 2023
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Sharjah Cement
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Abu Dhabi – Mubasher: Sharjah Cement and Industrial Development Company turned profitable at AED 1.13 million in 2023, versus net losses amounting to AED 39.60 million in January-December 2022.

The company generated revenues standing at AED 634.46 million last year, compared to AED 635.45 million in 2022, according to the initial results.

Earnings per share (EPS) hit AED 0.002 in 2023, against a loss per share valued at AED 0.065 a year earlier.

Meanwhile, the total assets grew year-on-year (YoY) to AED 1.93 billion as of 31 December 2023 from AED 1.90 billion.

Sharjah Cement highlighted that the investment operations resulted in a profit of AED 10.29 million, compared to AED 5.75 million in the previous year. This is mainly due to a growth in rental income from investment properties.