UCC announced its financial report for the second quarter of 2010

10/08/2010 00:00 AST

Union Cement announced its financial report for the second quarter of 2010 yesterday. The company said its total sales revenue was Dh174 million at the end of the period, compared to Dh195 million in the same period last year. This is a decline of 11 per cent. The net loss at the end of the second quarter 2010 was Dh4 million versus a Dh48 million profit in the second quarter of 2009.

Union Cement said that "the present global financial crisis and real estate mortgage has some impact on the company business as it leads to considerable reduction in the selling price."


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