Ras Al Khaimah Cement has announced that net losses for 2012 fell by 64% to $2m (AED: 7.3m) as revenues increased by 14.3% to $59.8m (AED: 219.5m).
Newly-filed financial statements reveal that the company almost trebled sales to overseas customers to $29.3m (107.5m) - or 49% of the total.
Shareholders equity in the firm dropped by $6.9m (AED: 25.2m) to $195.9m (AED: 719.5m).
Despite the loss, the company s board decided to pay a 5% cash dividend and a 5% award of bonus shares to shareholders.
In a report accompanying the accounts by its board of directors, the company pointed out that the amount of clinker produced was at its highest for five years (1.09m metric tonnes), although the amount of cement produced was the lowest (751,960 metric tonnes).
Source:
http://www.uaecement.com/newsDetail.aspx?id=793
