Sharjah Cement records decreasing sales

UAE-based Sharjah Cement has announced an 82.3 per cent fall in net profit for the 3Q18, dropping to AED2.2m (US$599,046) from AED12.4m a year ago. The company has attributed the results to a decline in income from investments and sales. Sales decreased 9.9 per cent to AED131.3m from AED145.7m in the 3Q17.

In the first nine months of 2018, Sharjah’s profit was down 67 per cent at AED14.3m compared to AED43.6m in the year-ago period.