Apex Investment turns profitable at nearly $28.33mln in H1-22

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Abu Dhabi – Apex Investment Company, formerly known as Ras Al Khaimah Cement (RAK Cement), has turned to net profits worth AED 103.69 million in the first half (H1) of 2022, against net losses of AED 7.18 million in H1-21.

The sales jumped to AED 440.99 million in the first six months (6M) of 2022, compared to AED 76.97 million during the same period a year earlier, according to a bourse disclosure on Wednesday.

Meanwhile, the basic earnings per share (EPS) stood at AED 0.041 in H1-22, versus a loss per share of AED 0.014 in the year-ago period.

During the second quarter (Q2) of 2022, the listed firm registered AED 54.24 million in net profit, compared to net losses of AED 3.54 in Q2-21.

The EPS settled at AED 0.015 in Q2-22, against a loss per share of AED 0.007 in Q2-21.

The company’s revenues amounted to AED 277.47 million in the January-March 2022 period, higher than AED 29.65 million in Q2-21.