Abu Dhabi - Mubasher: Fujairah Cement Industries Company (FCI) reported a 43% year-on-year plunge in its profits during the first half of 2018.
Net profits amounted to AED 11.9 million in H1-18, compared to AED 20.9 million in H1-17, according to the company’s recent statement.
The profit margin of FCI, which is listed on both Boursa Kuwait and the Abu Dhabi Securities Exchange (ADX), went down 20.2% during the six-month period ended 30 June, while financing costs increased 39% compared to the prior-year period.
For the second quarter of 2018, FCI’s profits fell 47% year-on-year to AED 4.4 million, from AED 16.5 million.
