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FINANCIAL NEWS
RAK Ceramics posts 9% rise in 2012 profit to USD60.7m
04 Apr 2013
(MENAFN) RAK Ceramics’ CEO, Abdallah Massaad, announced that the company’s profits in 2012 rose by 9 percent from a year before, reaching USD60.72 million, reported Gulf News.
Massaad added that the world’s largest manufacturer of ceramic tiles exports its products to more than 160 countries.
He added that nearly 87 percent of RAK Ceramics’ revenues and 97 percent of its profits come from its core business, which is making ceramic tiles and tableware; this is why the company is currently focusing on that segment.
The CEO also noted that the company is one of the biggest non-hydrocarbon exporters of the UAE, as 75 percent of the firm’s products are exported.
It is worth noting that RAK Ceramics is a holding company with almost 50 affiliates in different parts of the world with interests in ceramic tiles, tableware, construction, real estate, hotels, construction materials, paints and chemicals and logistics.
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