RAK White Cement registers lower profits in 2020

The company's revenues reached $60mln last year

  
Image used for illustrative purpose. White exterior of an industrial concrete factory complex.

Image used for illustrative purpose. White exterior of an industrial concrete factory complex.

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Abu Dhabi – Mubasher: The net profits attributable to the owners of Ras Al Khaimah Co. for White Cement and Construction Materials (RAK White Cement) declined to AED 12.689 million in 2020 from AED 19.41 million in 2019.

The company's revenues reached AED 221.192 million last year, down from AED 236.478 million in 2020, according to the company's consolidated financials for 2020.

The basic and diluted earnings per share (EPS) stood at AED 0.03 in 2020, against AED 0.04 in 2019.

The board has recommended distributing cash dividends, equivalent to 5% of the company's capital, for 2020.

It is noteworthy to mention that during the first nine months of 2020, the company's net profits attributable to the owners plunged by 79% to AED 3.78 million from AED 17.89 million in the year-ago period.

Source: Mubasher

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