Fujairah Cement H1 profit drops 43%

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. 

Mubasher Contribution Time: 12-Aug-2018 07:33 (GMT)
Mubasher Last Update Time: 12-Aug-2018 07:41 (GMT)

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