Sharjah Cement sees 25% decline in revenue

UAE-based Sharjah Cement has posted a net loss of AED47.9m (US$12.9m) in the first nine months of 2020, compared to a profit of AED2.8m in the corresponding period of last year. Revenues declined 25.3 per cent YoY to AED325.22m from AED435.45m in the 9M19.

In the third quarter of 2020 net losses reached AED22.7m from an AED240,000 profit in the year-ago period.