Fujairah Cement Industries net profits rise 45%

Fujairah Cement Industries (FCI) announced a 45 per cent increase in its net profits for the first nine months of 2015, compared to the same period last year.

Profits reached AED24.7m (US$6.7m) in the first nine months this year, up from AED17.06m (US$4.64m) in the same period of 2014.

The statements also showed a rise in the sales by about 1.5 per cent to AED454.27m, from AED447.4m in 2014.

Cost of sales declined by 1.04 per cent to AED403m by the end of the above period, compared to AED407.86m.

The company previously posted a profit of AED17m (US$4.63m) in H1-15, versus AED11.53m (US$3.14m) last year.