Abu Dhabi – Mubasher: Ras Al Khaimah Ceramics (RAK Ceramics) on Thursday reported a 35% year-on-year decline in net profit for the first half of 2018, recording AED 100.8 million from AED 156.8 million.
The company has gained around AED 57.9 million in H1-18 after disposing its entire 50% equity interest in RAK Warehouse Leasing LLC, according to a filing to the Abu Dhabi Securities Exchange (ADX).
Finance costs stood at AED 50.7 million in the six-month period ended June, up from AED 34.2 million in the year-ago period.
Revenues amounted to AED 1.4 billion at the end of June, versus AED 1.4 billion in H1-17.
Earnings per share reached AED 0.11 in H1-18, compared to AED 0.17 in the same period a year earlier.
RAK Ceramics previously posted a 2% increase in net profit for Q1-18, recording AED 56 million from AED 55 million.
The ADX-listed firm had registered 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.
