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- Oil Updates - prices nudge higher amid economic uncertainty, OPEC+ supply fears
- Saudi Arabia to power data platforms with AI to drive Vision 2030 goals
- For Dubai property demand, a weak dollar has its benefits, especially for luxury home buys
- Oman, UAE boost bilateral trade and investment ties
- Tatweer plans several new projects in Duqm zone this year
- Dubai gold price drops - again - ahead of April 30's 'Akshaya Trithiya'
- Saudi Awwal Bank records SR2.1 billion net profit after zakat and income tax for 1Q25
- ECB set for deeper interest rate cutting cycle
- 'Qatar-Belgium Business Meeting reviews bilateral investment co-operation'
- Qatar makes impact in strengthening integration frameworks in Arab capital markets
09/05/2017 05:22 AST
RAK Ceramics reported on Monday Dh55 million in net profit for the first quarter of 2017, marking a 5 per cent decline over the Dh57.8 million recorded in the same quarter of last year.
Revenues dropped 7.4 per cent in the quarter to reach Dh681 million.
In its management report posted to the Abu Dhabi bourse website, RAK Ceramics said the drop in profits reflects "lower non-core profitability on the one hand, and gains on the sale of non-core assets (Electro RAK) on the other, as we continue to exit these businesses."
"We continue to look towards 2017 with cautious optimism on the back of continued strength in demand from the UAE, the continued ramp up of our production in Iran, and an expected recovery in our Indian operations," the report from the board of directors said.
It added that the business will revamp Iran, leverage recent investments in Europe distribution, and expand the GCC manufacturing footprint.
During the first quarter of 2017, the company acquired control over its joint venture Restofair RAK, and converted it to a subsidiary. In line with the strategy to exit the non-core business, RAK Ceramics disposed its entire stake in Electro RAK group, recording a Dh3.8 million gain on disposal.
Gulfnews
01/03/2018
RAK Ceramics said on Tuesday its shareholders have approved plans of the board, which recommended Dh0.25 per share of dividend and 5 per cent bonus shares.
RAK Ceramics will begin trading ex-div
Gulf News
08/02/2018
RAK Ceramics, the world's fourth-largest producer of ceramics, returned to profitability in 2017, on the back of higher revenues, after the company took a loss in the previous year because of provisi
The National
07/06/2017
RAK Ceramics, one of the largest ceramics brands in the world, said it has partnered with the School of Architecture, Art and Design at the American University in Dubai (AUD) for an exciting design p
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| ALPHADHABI | 11.18 | 0.24 (2.19 |
| IQCD | 12.53 | 0.16 (1.29 |
| ADNOCLS | 4.62 | 0.22 (5.00 |
| NMDC | 24.70 | 0.66 (2.74 |
| ADPORTS | 3.99 | 0.09 (2.30 |
28/04/2025
Lubna S. Olayan, Chair of the Board of Directors of Saudi Awwal Bank (SAB), announced on Sunday the bank's financial results for the period ending 31 March, 2025.
For the first three months
Saudi Gazette
28/04/2025
stc announced its preliminary financial results for the period ending March 31, 2025, highlighting strong performance across key metrics.
Revenues for the first quarter reached SR19,210 mill
Saudi Gazette
28/04/2025
Arab Bank Group has reported solid results for the first quarter of 2025, with 7 % increase in net income after tax reaching $ 271 million, compared to $252.8 million for the same period last year.
Trade Arabia
28/04/2025
Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, has cemented its position as a regional leader in industrial innovation by becoming the first aluminium smelter in the Mid
Trade Arabia
26/04/2025
Adnoc Distribution, a leading fuel distributor and convenience store operator, has unveiled plans for a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging p
Trade Arabia
Financial Information Co.
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