Abu Dhabi – Mubasher: Fujairah Cement Industries Co reported an increase of 58.9% in profits during the third quarter of 2016 as compared with the same period a year ago.
Earnings grew to AED 12.39 million ($3.37 million) in Q3-16 from AED 7.8 million ($2.12 million) in Q3-15, the company said in a bourse statement issued on Sunday.
Fujairah Cement, which is listed on both KSE and ADX, recorded a surge of 84.8% in profits to reach AED 45.65 million during the first nine months this year when compared with AED 24.70 million in the corresponding period of 2015.
The company clarified that the increase in net profits resulted from “better realization of average price and cost control on the production side.”
