RAK Ceramics logs $46.2mln net profits in 9M-24

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RAK Ceramics recorded 29% year-on-year (YoY) lower net profits at AED 169.85 million in the first nine months (9M) of 2024, compared to AED 239.08 million.

The revenues stood at AED 2.36 billion in 9M-24, marking an annual drop of 8.90% from AED 2.59 billion, according to the consolidated financial results.

Meanwhile, the earnings per share (EPS) plunged to AED 0.16 in 9M-24 from AED 0.22 in 9M-23.

Financial Results for Q3-24

During the third quarter (Q3) of 2024, RAK Ceramics generated AED 55.93 million in net profit, down 33.30% YoY from AED 83.89 million.

The revenues shrank by 4.10% to AED 802.51 million in Q3-24 from AED 837.03 million in Q3-23, while the EPS dropped to AED 0.05 from AED 0.08.

In the first half (H1) of 2024, RAK Ceramics logged net profits worth AED 113.91 million, lower by 26.60% than AED 155.19 million in H1-23.