Kuwait – Mubasher: Fujairah Cement Industries Company posted on Sunday a year-on-year fall of 24.9% in its profits for the first quarter of fiscal year 2017.
Net profit for Q1-17 reached AED 12.58 million ($3.43 million), versus AED 16.75 million ($4.56 million) for Q1-16, according to a bourse filing.
Revenues shrank in Q1-17 by 7.7% to AED 139.21 million from AED 150.8 million for Q1-16.
The company, listed on Boursa Kuwait and the Abu Dhabi Securities Exchange (ADX), had earlier reported a net profit of AED 56.72 million for FY16.
