Displaying items by tag: Ras Al Khaimah Cement

UAE: Failure of financing has put a stop to Ras Al Khaimah’s intended purchase of an 0.6Mt/yr integrated white cement plant in Fujairah and its associated quarry. Reuters has reported that the estimated US$123m deal will not be going ahead.

UAE: Ras Al Khaimah Cement Company has reported a decline in its net profit for the first half of 2015 to US$0.67m from US$0.86m in the same period of 2014.

UAE: Ras Al Khaimah (RAK) Cement has bought back nearly 321,500 of its shares on the Abu Dhabi Securities Exchange, at prices between US$0.24 – 0.25/share. The number of repurchased shares has reached 9.187 million, while the number of remaining shares amounts 46.7 million. RAK Cement posted net earnings of US$667,002 for the first six months of 2015, compared with US$857,574 a year earlier.

Saudi Arabia: Hail Cement has announced a net loss of US$7.1m, the third consecutive year with a net loss, although it reduced its loss from US$10.9m in 2011. Hail reported a 29.5% drop in revenue to US$391,635 and negative operating cash-flow.

UAE: Ras Al Khaimah Cement made a net loss of US$2.0m during the whole of 2012 despite a 15.1% increase in its revenue to US$60.5m. 2012 was the third year in five that the company made a loss. In 2011 the company made a net loss of US$5.4m.