Abu Dhabi-Mubasher: Arkan Building Materials reported a 65.6% drop in its second-quarter profits, according to a bourse statement.
Net profits reached AED 9.41 million ($2.56 million) in Q2-16, compared to AED 27.32 million ($7.44 million) in Q2-15.
The company generated profits of AED 40.14 million in H1-16, down 30.6% from AED 57.83 million in H1-15.
Revenues fell 7.4% year-on-year to reach AED 411.24 million in H1-16.
Net share of associates’ profits declined 43% to AED 6.11 million in H1-16, compared to AED 10.67 million in H1-5.
