Abu Dhabi – Mubasher: Arkan Building Materials on Monday reported a 34% year-on-year drop in its interim profits.
Net profit amounted to AED 36.18 million ($9.84 million) in the first nine months of 2017, versus AED 54.75 million ($14.90 million) in the prior-year period, the firm said in a filing to the Abu Dhabi Securities Exchange (ADX).
Total current liabilities increased 2% to AED 670.21 million in the nine-month period from AED 655.98 million in the year-ago period.
Total revenue grew 14% to AED 677.56 million in the nine-month period ended September 2017, compared to AED 595.81 in the corresponding period of 2016.
Arkan had previously posted a 37.5% year-on-year decline in profits for the first half of 2017 to AED 25 million, versus AED 40 million in H1-16.
