Umm Al Quwain Cement Industries has said that oversupply in the real estate market is continuing to impact on demand for cement - a trend which it expects to continue throughout the year. "We expect this year to be a tough year for the cement sector, " the company s managing director, Salem Abdulah Salem Al Hosani said after it revealed a 37% decline in sales for the first nine months of the year to $2.6m (AED: 9.68m), compared with around $4.2m last year. This meant the firm made an operating loss of $23, 141, compared with a profit of $10, 617 for the same period last year. However, profits from shares in other investments mean the company declared an overall net profit of around $3.3m. Source: uaecement
Source:
http://www.uaecement.com/newsDetail.aspx?id=718
