RCC records Dh1.19b profits in ‘05

RAS AL KHAIMAH — The RAK Cement Company (RCC) has achieved the total of Dh119,9 million profit during the year 2005, the company's annual report said.

By Sadiq A. Salam

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Published: Thu 9 Mar 2006, 9:37 AM

Last updated: Sat 4 Apr 2015, 3:31 PM

The report, which has been presented yesterday at the company's General Assembly meeting, also said that profits have increased by 23.7 per cent compared to Dh96,9 million that has been achieved in the year 2004. RCC has produced 1,074,273 metric tons of clinker and 1,183,254 metric tons of cement during the year 2005 compared to only 954,670 metric tons of clinker and 1,063,075 metric tons of cement during the year 2004.

The company's total sales have also amounted to Dh1,233,412 in 2005 compared to only Dh1,074,090 in the year 2005. The business also provide the local market with 1,172,860 metric tons of cement, around 10 per cent of the local consumption, which ranks as having the fifth market share on the local level. It has also exported 60,552 metric tons of cement to the overseas markets.

The meeting also decided to distribute 10 per cent of the company's profits as bonus share. This is in addition to increasing the authorised capital to be Dh484 million, distribute to 484 million shares, at per value of Dh1 per share.

As per the directives of the RAK Government, the company has also nationalised around 26 per cent of its workforce, the report said. The business also decided to spent the total amount of Dh6.8 million on improving the surrounding environment during the year 2006.

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