Arkan Building Materials sees profits decline to AED2.1m in 1H20

Arkan Building Materials reported 1H20 profits declining to AED2.1m (US$571,818) as construction activity became disrupted in UAE due to the pandemic. Last year the company reported profits in 1H19 of AED 33.7m, boosted by the sale of Emirates Cement Factory.

Revenue this year has reached AED387.4m, down from AED458.8m last year. Cement revenues fell to AED196.5m from AED282.7m last year, while cement-led profit amounted to AED7.91m, down from AED45.69m. Concrete block and dry mortar revenue totalled AED98.41m.