Malik Salama – Mubasher: Mixed losses of 4 cement organizations mentioned on UAE funds marketplaces increased 82% all through the initially 6 months of 2022.
In accordance to UAE economic industry details for the time period ending June 30, 2022, losses amounted to Dh 95.7 million, in contrast with losses of Dh 52.5 million in the identical period of time in 2021.
Fujairah Cement Company tops the list of all those firms in conditions of losses of 15%, with losses of 29.6 million dirhams at the close of the 1st half of 2022, when compared to losses of 25.7 million dirhams in the exact period. of 2021.
The enterprise documented a adverse earnings margin of 3.6% as opposed to a good profit margin of 10.4% in the to start with 50 percent of 2021 because of to the decrease in revenue by a bigger proportion than the reduce in direct fees.
This is adopted by the Gulf Cement Business, whose losses amplified for the duration of the 1st 6 months of 2022, by 15% to get to 29.2 million dirhams, when compared to losses of 25.4 million dirhams all through the very first six months of 2021.
The corporation recorded expense losses of AED 1.01 million, in contrast to achieving expense money of AED 7.20 million in the course of the first 50 % of 2021.
The company’s other revenues fell to AED 1.46 million all through the initially 50 percent of 2022, in contrast to AED 7.17 million in the similar period very last year.
The Sharjah Cement Enterprise jumped 431% to AH 26 million all through the initially half of 2022, in comparison to losses of AED 4.9 million in the exact period final 12 months.
The enterprise described a destructive gain margin of 4.2% as opposed to a beneficial earnings margin of 3.% in the first fifty percent of 2021 due to the boost in the price of direct fees by a better charge than the maximize in revenues .
Financial investment income fell by 13% to arrive at AED 5.6 million, in comparison with AED 6.4 million in the very same period of time final yr.
Funding costs increased by 6% to access 7.1 million dirhams, when compared to 6.7 million dirhams in the very first half of 2021.
The Countrywide Cement Business, the only cement enterprise mentioned on the Dubai current market, recorded losses of 10.9 million dirhams by the finish of the first fifty percent of 2022, compared to revenue of 3.5 million dirhams designed in the identical time period of 2021.
Enterprise income reduced 7% in contrast to the very first fifty percent of 2021 and typical and administrative expenditures enhanced 29% to get to AED 13.8 million, in comparison to AED 10.7 million in the similar period of time of the year. last.
And recorded losses from the internet adjust in the fair worth of debt devices at good worth through revenue or reduction of 5.4 million dirhams for the duration of the very first 50 percent of 2022, compared to accomplishing profits of 8.2 million dirhams in the same period of last 12 months.
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