Abu Dhabi – Mubasher: The consolidated interim financial results of Sharjah Cement and Industrial Development Company showed net losses attributable to the owners of AED 47.4 million ($12.9 million) in the first nine months of 2020, against net profits of AED 2.8 million ($762,000) in the same period of 2019.

The company's revenues reached AED 325.22 million in the January-September period of 2020, down from AED 435.45 million in the corresponding period of 2019.

The basic and diluted loss per share settled at AED 0.078 in the first nine months of 2020, compared to the earnings per share (EPS) of AED 0.005 in the same period of the previous year.

During the third quarter (Q3) of 2020, the company saw net losses of AED 22.7 million, against AED 240,000 net profits in the corresponding quarter of 2019.

It is noteworthy to mention that in the first half (H1) of 2020, the company recorded net losses of AED 24.67 million, against net profits of AED 2.55 million in the same half of 2019.

Source: Mubasher

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