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[June 2008]
RAK Ceramics Increases Net Quarterly Profits
The giant UAE ceramic manufacturer RAK Ceramics has reportedly registered an increase in its net profits to AED 54.2 million (approximately €9.5 million) for the first quarter of 2008, up from AED 38.3 million (approximately €6.72 million) recorded for the first quarter of 2007.
The 41.5% profit increase came on the back of a rise in the company’s sales to AED 613.5 million (around €108 million) for January to March 2008.
The financial results followed up news from RAK Ceramics that it had been awarded the Emirates Certificate of Conformity for the tiles business.
RAK said that it was the first company in the construction/construction products related sector to have been granted this certificate.
ENDS