Sharjah Cement 1Q profit edges ahead

UAE-based Sharjah Cement and Industrial Development Co registered a YoY rise of 1.75 per cent in 1Q17 profit. Earnings totalled AED11.6m (US$3.16m) in 1Q16 compared with AED11.4m (US$3.10m), according to a bourse filing on Monday.

Shareholders equity stood at AED1.4bn in 1Q17 from AED1.39bn in 1Q16. Revenues in the first three months of this year fell by 5.09 per cent to AED165m from AED174m in the comparative period of 2016, the statement added.