Abu Dhabi – Mubasher: Fujairah Cement Industries (FCI) on Sunday reported a 95% year-on-year fall in profits for the third quarter of 2018.
The cement firm, which is listed on the Abu Dhabi Securities Exchange (ADX) and Boursa Kuwait, achieved AED 300,000 in net profits in Q3-18, a sharp decline from AED 6.2 million in the prior year period.
Between January and September, FCI logged AED 12.2 million in profits, down 55% from AED 27.1 million in the same period of 2017, the company said.
FCI previously posted a 43% year-on-year drop in profits to AED 11.9 million in the first six months of 2018, compared to AED 20.9 million in the year-ago period.
