RAK Ceramics Announces AED 110.3 Million Profit

RAK Ceramics yesterday announced its half-year results, with total business revenue down by AED 1.28 billion compared to the first half of 2018. EBITDA has increased by 8% to 239.8 million AED, while net profit rose from AED 120.5 million to AED 110.3 million. Net income increased by AED 98.8 million on a quarterly basis, up 98.8% on a quarterly basis, due to the write-off of the AED 22.1 million provision for receivables.

"We have seen an improvement in our gross margins through continued investments in operational efficiencies and, despite high energy costs, we remain focused on effective and profitable business management," said Abdulla Mosaad, RAK CEO. Ceramics. For the remainder of 2019, we will continue to focus on controlling high energy costs and improving profitability. & # 39; & # 39;