UAE-based Ras Al Khaimah Company for White Cement and Construction Materials, also known as RAK White Cement, has more than doubled its net profit for the first quarter of 2022.
Profit for the period stood at 16.3 million dirhams ($4.4 million), up by 129 percent from 7.1 million dirhams a year earlier, according to a disclosure on the Abu Dhabi Securities Exchange (ADX), where the company’s shares trade.
However, total sales fell slightly from 66 million dirhams to 64.1 million dirhams over the same period. Operating profit also dipped from 6.9 million dirhams to 4.4 million dirhams, while investment profit surged from 601,000 to 12.2 million dirhams.
(Writing by Cleofe Maceda; editing by Seban Scaria)