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FINANCIAL NEWS
Cement companies in GCC report profit increase in 2011
01 Apr 2012
(MENAFN) According to a new study, cement companies in the GCC were able to operate with profits back in 2011, thus rebounding from slowness in the real estate market that hit the region after the global financial crisis, reported Emiurates 24/7.
The study elaborated saying that sales went up 14.2 percent, hitting USD4.57 billion, while net profits went up 2.7 percent, hitting USD1.47 billion.
The report added that the increase in profits took place despite a decrease in cement prices in some countries such as the UAE.
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