Abu Dhabi – Mubasher: Ras Al Khaimah Ceramics (RAK Ceramics) on Thursday reported a 2% increase in net profit for the first quarter of 2018, recording AED 56 million from AED 55 million.
Sales fell 3% to AED 661.8 million in the three-month period ended last March, versus sales of AED 681.1 million in Q1-17, the company said in a filing to the Abu Dhabi Securities Market (ADX).
Revenues surged 75.13% to AED 43.17 million in Q1-18, from AED 24.65 million in the prior-year period.
RAK Ceramics had previously posted a net profit of AED 270.5 million for the full-year ended December 2017, compared to a net loss of AED 4.9 million a year earlier.
The company’s sales rose by 2% last year to reach AED 2.85 billion, up from AED 2.79 billion in 2016.
