Union Cement Company, the UAE-based supplier of cements to various MENA markets, witnessed a return to profit in the six months to June 30 as it reversed a $2.4m loss in 2011 into a $5.6m profit. The company attributed the profits increase to an “improvement in the selling prices of cement and clinker this year”. This more than compensated for a marginal decline in sales to $88.3m, which it blamed on “circumstances surrounding the local market”. The Ras Al Khaimah-based business – chaired by H. E. Sheikh Saqr bin Khalid Humaid Al Qasimi – said that margins had improved as a result of management attempts to reduce overheads both through trimming procurement costs and optimising production capacity. Source: uaecement
Source:
http://www.uaecement.com/newsDetail.aspx?id=617
