28/07/2009 00:00 AST

Umm Al-Qaiwain Cement Industries Co., a United Arab Emirates-based cement producer, said second- quarter profit slumped 96 percent on investment losses and impairment provisions.

Net income declined to 2.9 million dirhams, or 0.008 dirham a share, from 81.4 million dirhams, or 0.224 dirham, in the year- earlier period, the company said in a statement to the Abu Dhabi bourse today. Sales fell 5 percent to 29.6 million dirhams.


Bloomberg

Cement firm solidifying earnings in Northern Emirates

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If you can't sell, invest. That seems to be the lesson one Northern Emirates company has learnt recently.

Profits for Umm Al Qaiwain Cement more than doubled last year, despite an almost 5

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