Abu Dhabi – Mubasher: Union Cement Company (UCC) reported a 13.15% decline in net profits during the first quarter of 2018.
The Abu Dhabi-listed cement producer’s net profit registered AED 13.6 million in Q1-18 versus AED 15.66 million in the year-ago period, according to a bourse statement released on Thursday.
The decline in UCC’s profits can be attributed to the increase of sales’ cost in the three-month period ended 31 March 2018, recording AED 140.41 million, compared to AED 129 million from January to March 2017.
