Ras Al Khaimah Cement reports 9% decline in profit

UAE-based Ras Al Khaimah Cement Co has reported a nine per cent decline in net profit to AED50.71m (US$13.8m) last year, compared to AED55.71m in 2019.

The company's revenue also fell 15 per cent YoY to AED153.08m from AED181.66m.

During the first nine months of 2020, the company's net losses had surged to AED23.7m from AED6.4m in the year-ago period.