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FINANCIAL NEWS
UAE’S RAK Ceramics profit grows by 11 percent
16 May 2016
(MENAFN) RAK Ceramics proclaimed that it has achieved a 10.8 percent increase in net profit at USD 17.94mn for Q1 of this year.
However, this is despite emphasized levels of uncertainty in global markets, and an unchanged whole income of USD 200.29mn for the cited quarter.
The UAE firm’s growth was led by a 3.3 percent growth in the sale of tiles to USD 135.03mn and a 0.5 percent increase in sanitary ware sales to USD 30.35mn.
Moreover, combined earnings before interest, taxes and amortization increased by 6.7 percent to USD 37.65mn and Ebtida grew to 18.8 percent.
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