Abu Dhabi – Mubasher: United Cement Company (UCC) on Monday reported a 38% year-on-year increase in its profits for the first quarter 2017.
UCC logged AED 15.66 million ($4.26 million) in profit in the first three months of 2017, up from AED 11.35 million ($3.09 million) in the year-ago period, according to a filing to the Abu Dhabi Securities Exchange (ADX).
Rising revenues from sales by 16.4% year-on-year to AED 148.8 million helped boost profits.
Cost of sales also increased by 16.8% to AED 122.84 million in Q1-17 from AED 105.20 million in the same period of 2016, according to the statement.
UCC previously posted AED 84.24 million in profits for the full year 2016, registering a decline by 18.7% from AED 103.67 million in 2015.
