Arkan profits drop to Dh40m

Arkan

Building Materials Co reported Dh40 million in net profit for the first six months of 2016, a drop from the Dh57.8 million recorded in the same period in 2015.

Net profit for the second quarter of 2016 was Dh9.4 million — down around a third compared to the Dh27.3 million in the second quarter of 2015.

Arkan said that adverse weather conditions had caused damage to the cement plants in Al Ain, negatively impacting second quarter profitability. (Staff Report)