Abu Dhabi-Mubasher: Ras Al Khaimah Ceramics (RAK Ceramics) reported a 10.2% rise in its annual net profits to AED 310.3 million in the fiscal year 2015, according to the company’s statement on Sunday.
The profit growth is backed by continued delivery of the value creation plan, led by major enhancements and investment expansion in core businesses, in addition to a successful turnaround of non-core business activities.
Overall gross margin increased by 230 basis points to 28.2%, despite an increasingly competitive environment.
Gross margin from core businesses rose to 29.3% from 28.4% in 2014 due to an increase in tile margins by 20 basis points from 2014 due to a wider range of offered products.
The board recommended 30% cash dividend and 5% bonus shares, with commitment to sharing more profit with shareholders via a sustainable dividend policy.
