RAK Cement posts third consecutive quarterly loss, UAE

Ras Al Khaimah Cement Company, based in the UAE, has issued its preliminary results for 4Q11, posting its third consecutive quarterly net loss of AED8.5m (US$2.3m). This brings its full year net loss to AED19.9m (US$5.4m).

The results beat estimates by analysts at Global  Investment House (GIH) by 9.7 per cent. GIH believe the net loss was due to decreasing cement sales and lower realization prices.