RAK White Cement sees 22% higher profits in H1-22

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Ras Al Khaimah Company for White Cement and Construction Materials (RAK White Cement), listed on the Abu Dhabi Securities Exchange (ADX) and Boursa Kuwait, logged net profits attributable to the owners worth KWD 1.41 million during the first half (H1) of 2022, an annual jump of 22% from KWD 1.16 million.

The total operating revenues grew by 5% year-on-year (YoY) to KWD 10.71 million in H1-22 from KWD 10.16 million, according to the income statements on Tuesday.

Meanwhile, the basic and diluted earnings per share (EPS) stood at KWD 0.0028 in the first six months (6M) of 2022, higher by 12% YoY than KWD 0.0025.

During the second quarter (Q2) of 2022, the net profits attributable to the owners slumped by 91% to KWD 54,106 from KWD 583,010 during the same period a year earlier.

Additionally, the company’s total operating revenues amounted to KWD 5.35 million in Q2-22, an annual surge of 13% from KWD 4.75 million.

The basic and diluted EPS settled at KWD 0.0001 during April-June 2022, lower by 91% than KWD 0.0011 in the year-ago period.