Dubai – Mubasher: National Cement Company on Wednesday reported a sharp decline in net profits in the third quarter of 2017, falling 81.4% to AED 1.829 million ($497,800) versus AED 9.85 million ($2.68 million) in the year-ago period.
Revenues dropped 17% to AED 50.36 million in the three-month period ended September, compared to AED 60.66 million in Q3-16, according to a filing to the Dubai Financial Market (DFM).
Meanwhile, sales costs decreased 7.23% year-on-year from July to September to AED 52.21 million, National Cement reported.
The company’s net profits declined by 36% to AED 47.23 million in the first nine months of 2017, compared to AED 73.48 million in the corresponding period of 2016.
