Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- Picking UAE stocks that can withstand global markets' tariff whiplash
- Dubai's Emirates NBD clears Dh1 trillion balance-sheet milestone in Q1-2025
- NBK reports a net profit of KD 134.1 million for Q1 2025
- CBB Treasury Bills oversubscribed by 166%
- Bahrain All Share Index closes lower
- Boubyan Bank records KD 26.5 million in net profit for Q1, 2025, an increase of 6%
- Zain Kuwait, one of the first mobile operators in region to achieve ISO 37301
- CBO launches 74th issue of Government Development Bonds via auction
- QNB Group broadens funding sources, open to future opportunities
- Bank Muscat advances digital transformation
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 | 10.82 | -0.10 (-0.92 |
| IQCD | 12.43 | -0.01 (-0.09 |
| ADNOCLS | 4.38 | -0.05 (-1.13 |
| ADPORTS | 3.90 | -0.02 (-0.52 |
| NMDC | 23.00 | -0.14 (-0.61 |
22/04/2025
Emirates NBD's profit before tax stirred up a sharp 56% quarter-to-quarter growth to Dh7.8 billion for the first three months of 2025. The key fundamentals - 'lending momentum, improvement in deposit
Gulfnews
22/04/2025
National Bank of Kuwait (NBK) has announced its financial results for the three-month period ended March 31, 2025. The Bank reported a net profit of KD 134.1 million ($434.8 million), compared to KD
Kuwait Times
22/04/2025
Boubyan Bank has announced its financial results for Q1 of this year. The bank recorded KD 26.5 million in net profits at a growth rate of 6 percent compared with the same period of the past year, wi
Kuwait Times
22/04/2025
Zain, Kuwait's leading digital services provider, has been awarded the ISO 37301:2021 certification an internationally recognized standard for Compliance Management Systems (CMS).
As one of
Kuwait Times
22/04/2025
QNB Group, the largest financial institution in the Middle East and Africa, stated that the recently announced $2bn unsecured syndicated term loan facility aims at extending the bank's financing matu
QNA
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia