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FINANCIAL NEWS
RAK Ceramics plans 15% revenue increase
04 Jan 2011
(MENAFN) The chief financial officer at Ras al Khaimah Ceramics (RAK), said that the company projects a fifteen percent increase in revenues in the years of 2011 and 2012 especially that RAK had cut its debt by 25 percent, reported The National.
The CFO said that existing capacity at the world’s largest ceramic company can cover the targeted revenue. Currently, RAK produces 117 million square meters of tile on an annual basis. He added that the company would target new markets to make this hike possible.
The Ras al Khaimah-based company conducts work in Bangladesh, Iran, China, Sudan and India. The CFO said that India and Bangladesh were targets for a large number of sales in the company’s revenue plan.
It is worth noting that RAK currently provides India with 75% of the country’s ceramic while it supplies Bangladesh with a quarter of its needs.
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