Abu Dhabi – Mubasher: Sharjah Cement and Industrial Development Company shifted to net profits valued at AED 8.44 million in the first quarter (Q1) of 2024.

The registered profits were compared to net losses worth AED 7.44 million in Q1-23, according to the financial statements.

Revenues amounted to AED 167.61 million in the first three months (3M) of 2024, marking an annual surge from AED 157.98 million.

Basic and diluted earnings per share (EPS) hit AED 0.014 as of 31 March 2024, against a loss per share valued at AED 0.012 in Q1-23.

Total assets fell to AED 1.934 billion in Q1-24 from AED 1.935 billion at the end of 31 December 2023.

As of 31 December 2023, Sharjah Cement swung to net profits valued at AED 1.13 million, compared to net losses worth AED 39.60 million in 2022.