UAE: RAK White Cement’s revenues cross $34mln in H1-24; profits rise

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The net profits of Ras Al Khaimah Company for White Cement and Construction Materials (RAK White Cement) hit AED 19.48 million in the first half (H1) of 2024.

The recorded net profits were higher year-on-year (YoY) than AED 5.23 million, according to the unaudited interim financial results.

Revenue from contracts with customers amounted to AED 125.10 million in the first six months (6M) of 2024, an annual decline from AED 129.20 million.

The basic and diluted earnings per share (EPS) hiked to AED 0.04 in H1-24 from AED 0.01 in H1-23.

Total assets climbed to AED 907.82 million as of 30 June 2024 from AED 882.84 million as of 31 December 2023.

Income Results for Q2

In the second quarter (Q2) of 2024, the net profits increased to AED 6.35 million from AED 4.61 million in Q2-23, while the revenues went down to AED 62.06 million from AED 62.54 million.

Meanwhile, the basic and diluted EPS plummeted to AED 0.01 in Q2-24 from AED 0.09 a year earlier.

In the three-month period that ended on 31 March 2024, RAK White Cement posted YoY higher net profits at AED 13.12 million, compared to AED 620,099.