Abu Dhabi – Mubasher: RAK Ceramics completed the acquisition of RAK Porcelain, making it a wholly-owned subsidiary, according to a bourse statement.
The transaction, which was announced on 3 June, aligns with the ADX-listed company’s commitment to expand its core business segments.
In the first quarter (Q1) of 2024, RAK Ceramics registered 21.50% lower net profits after tax at AED 62.90 million, compared to AED 80.10 million in Q1-23.
The revenues fell by 11.40% to AED 781.60 million in Q1-24 from AED 882.40 million a year earlier.
