Abu Dhabi – Mubasher: Ras Al Khaimah Cement (RAK Cement), listed on the Abu Dhabi Securities Exchange (ADX), has reported its condensed interim financial results for the period ended 30 June 2019.
The company has turned to losses during the second quarter of 2019, incurring AED 728.89 million in losses, against a profit of AED 4.97 million in Q2-18, according to a bourse filing.
Loss per share stood at 0.001 during the April-June period of this year, versus earnings per share of AED 0.010 in the same quarter last year.
During the first half of 2019, the company has recorded a profit of AED 1.43 million, down from AED 6.9 million in the prior-year period.
Total comprehensive income reached AED 4.24 in the six-month period ended 30 June 2019, compared to AED 10.14 million in H1-18.
Sales revenue fell to AED 93.14 million in H1-19 from AED 116.43 million in the year-ago period, the company highlighted.
Total assets amounted to AED 685.48 million as at 30 June 2019, versus AED 665.74 million as at 31 December 2018.
It is worth noting that RAK Cement previously posted it achieved a net profit of AED 2.2 million in Q1-19, compared to AED 1.9 million in Q1-18.
