Abu Dhabi – Mubasher: Union Cement Company (UCC) on Wednesday posted its financial results for the first nine months of 2017, which showed a 1.4% year-on-year increase in net profits to AED 56.27 million ($15.31 million).
UCC’s profit growth is attributable to the rise in sales’ revenue by 8.6%, the company’s data on the Abu Dhabi Securities Exchange (ADX) showed.
The UAE-based company’s sales’ revenue grew to AED 441.67 million in the first three quarters of 2017 versus AED 406.56 million in the year-ago period, the UCC said in a statement to the ADX.
Meanwhile, sales’ costs in the nine-month period ended 30 September rose 9.8% to AED 348.53 million from AED 317.30 million in the first nine months of 2016.
