Abu Dhabi – Mubasher: Ras Al Khaimah Poultry and Feeding Co. (RAPCO) said its board will convene on Wednesday to discuss the proposal by Al Hamra Real Estate Development to give RAPCO a 240,600 square-foot plot in Al Murjan Island instead of another plot in Al Hamra.
The board will also discuss the scope of work required to evaluate the production stages, approve it and deliver it to the relevant bodies, the company said in a bourse filing on Monday.
The feeding firm previously reported a net profit of AED 12 million ($3.27 million) in the first half of 2015, registering a sharp decline of 49.16% from AED 23.8 million ($6.48 million) in the corresponding period in 2014. At the level of the second quarter, RAPCO said its profits fell to AED 7.64 million from AED 10.8 million in Q2-14.
