Abu Dhabi – Mubasher: Arkan Building Materials has suffered losses in the third quarter of 2018, while its nine-month results showed a sharp profit fall.
The company incurred AED 5 million ($1.36 million) in losses in Q3-18 against AED 11.2 million ($3.05 million) in profits in the corresponding period of 2017, the company said in a filing to the Abu Dhabi Securities Exchange (ADX).
As for the nine months to September, Arkan Building Materials’ profits retreated 72% year-on-year to AED 10.2 million from AED 36.2 million.
Arkan previously posted a 76% drop in profits to AED 3.5 million in Q2-18 from AED 14.4 million in the same period of 2017.
