UAE: Fujairah Cement profits up 59%

Fujairah Cement Industries Co reported an increase of 58.9 per cent in profits in 3Q16 as compared with the same period a year ago.

Earnings rose to AED12.39m (US$3.37m) in 3Q16 from AED7.8m (US$2.12m) in 3Q15, the company said in a bourse statement issued on Sunday.

In the first nine months of this year, Fujairah Cement, which is listed on both KSE and ADX, saw a 84.8 per cent YoY jump in profits to reach AED45.65m when compared with AED24.70m in 9M15.
The company attributed the increase in net profits to improved price realisation and production cost control.