RAK Ceram­ics re­ports in­crease in UAE, In­dia, Dhaka rev­enues

The Gulf Today - Business - - UAE -

RAS AL KHAIMAH: RAK Ceram­ics, one of the largest ceram­ics’ brands in the world, has an­nounced its inan­cial re­sults for the irst quar­ter ended March 31, 2018.

The com­pany re­ported sta­ble year on year per­for­mance with to­tal rev­enues at Dhs661.8 mil­lion and core rev­enues grow­ing by 1.0 per cent to Dhs626.8 mil­lion.

RAK Ceram­ics’ to­tal rev­enue in Q1 2018 de­creased by 2.8 per cent year on year, driven by a 42.1 per cent drop in non-core rev­enue and due to dis­con­tin­u­a­tion of the rough grad­ing busi­ness in line with RAK Ceram­ics’ value cre­ation plan.

RAK Ceram­ics’ core rev­enue grew by 1 per cent year on year, driven by strong sales in the UAE, In­dia and Bangladesh.

Tile rev­enues in the UAE, In­dia and Bangladesh in­creased by 19 per cent, 15.9 per cent and 3.9 per cent re­spec­tively year on year. Core EBITDA in­creased by 3.0 per cent to Dhs99.3m com­pared to Q1 2017 with mar­gins of 15.8 per cent and core gross profit mar­gin re­mained sta­ble at 32.0 per cent com­pared to Q1 2017.

Driven by com­pany’s strategic fo­cus on di­vest­ing non-core op­er­a­tions, non-core rev­enue con­tri­bu­tion reached an all time low of 5.3 per cent due to the dis­con­tin­u­a­tion of the rough grad­ing busi­ness.

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