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FINANCIAL NEWS
RAK Ceramics revenue down to USD218.79m in Q2
11 Aug 2015
(MENAFN) UAE RAK Ceramics P. S. C. said its overall revenue decline of 1.1 percent in the second-quarter period, reaching USD218.79 million, while it hit USD421.91 million in the first half.
Non-core revenues increased in the second quarter by 11 percent to USD37.37 million, while it increased by 20.9 percent in the January-June period of 2015 to USD69.46 million.
Net profit for the period also dropped by 5.7 percent to USD23.38 million in the April-June period, while declining by 2.4 percent in the six months to June 30, reaching USD39.85 million.
The figure followed a net loss of USD3.72 million from restructuring activities such as the divestments of stakes in RAK Pharma and Moshfly in Bangladesh and RAK Laticrete in the UAE.
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