08/02/2018 06:49 AST

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 provisions related to inventory and other one offs.

Net income after minority interest rose to Dh270.5 million in 2017 compared to a loss of Dh4.9m in 2016, the Ras al-Khaimah company said in a statement on the website of the Abu Dhabi stock exchange. Total revenue rose 2.2 per cent to Dh2.85b in 2017 compared to Dh2.79b in 2016.

The company's chief executive officer said that 2018 held growth potential despite headwinds from increased competition and geopolitical instability, especially from its businesses in Bangladesh and India.

"Looking ahead to 2018, there are a number of external factors that might affect our business with increased competition, gas and oil price volatility and geo-political headwinds," Abdallah Massaad, the company's chief executive officer said in a statement.

"However, we see that GDP is growing in all our core markets and the UAE and KSA have higher government infrastructure budgets this year: positive trends for growth."

The company is also increasing its sales in the fast growing emerging markets of Bangladesh and India. RAK Ceramics said in November it was planning to expand its business by nearly two thirds in India where it sees potential for outsized growth in the wake of increased spending on infrastructure.

The company is planning to increase "soon" its output in India to 18 million metric tons from its current 11m tons, Mr Massaad told The National at the time. RAK produces 110 million square meters of ceramic annually.

India's economy has benefited in the past couple of years from low oil prices because it's a net energy importer. Since Prime Minister Narenda Modi came to power in 2014, the fortunes of the economy have improved as the reform minded prime minister moved to cut red tape and reduce subsidies, pushing the country's benchmark stock index to a record high.


The National

RAK Ceramics shareholders approve dividend, bonus plan

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

RAK Ceramics partners with American University in Dubai

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

RAK Ceramics profit down 5% to Dh55m

09/05/2017

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.

Reve

Gulfnews

Ticker Price Volume
RAKCEC Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Ticker Price Change
ALPHADHABI 11.90 -0.20 (-1.66%)
IQCD 13.41 0.06 (0.44%)
ADNOCLS 4.85 0.00 (0.00%)
ADPORTS 4.23 0.01 (0.23%)
NMDC 24.60 -0.04 (-0.17%)
Burjeel reports 129% increase in Q2 net profit, revenue grows 18.7%

08/08/2025

Burjeel Holdings, a leading super-specialty healthcare services provider in MENA, has delivered a strong top-line growth of 18.7% to AED1,403 million ($381.98 million) in Q2 2025, driven by a 12.1% i

Trade Arabia

Saudi Maaden H1 profit up 73% on higher sales; revenue hits $4.8bn

08/08/2025

Saudi Arabian Mining Company (Maaden) has reported a 73% jump in its net profit for the first half, which soared to SAR3.47billion ($924 million) from SAR2.01 billion ($535 million) last year, mainly

Trade Arabia

IQ reports QR2bn net profit in H1, approves 26% interim dividend

08/08/2025

Market heavyweight Industries Qatar (IQ) - the holding entity of Qatar Petrochemicals, Qatar Fertiliser and Qatar Steel - has reported net profit of QR2bn in the first half (H1) of 2025.

The

Gulf Times

Aramex sees stable H1 revenue as regional push offsets profit pressures

08/08/2025

Aramex reported group revenues of Dh3.06 billion for the first half of 2025, marking a 1% year-on-year increase, as growth in domestic and regional logistics offset weakness in international express

Gulfnews

Dubai's Parkin locks in record Q2 revenue, profit on parking demand

08/08/2025

Parkin Company PJSC, the city's largest paid public parking provider, reported a record 56% year-on-year rise in Q2 2025 revenue to Dh320 million, driven by higher public parking tariffs, strong enfo

Gulfnews