Gulf Cement 9M profit down

Gulf Cement 9M profit down
13 November 2018


UAE-based Gulf Cement reported a 9.3 per cent fall in revenues in the 9M18 to AED371.7m (US$101.2m) from AED409.8m in the year-ago period.

Net profit fell 95 per cent from AED33.1m in the 9M17 to AED1.6m in the first nine months of 2018. The company attributed the decline in its net profit due to rising coal and gas prices. In addition, increased supply to the market resulted in falling selling prices.

Published under Cement News