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Biggest tile maker in the world posts a 3% profit.

Dubai Ras Al Khaimah Ceramics, or Rak Ceramics, the world's largest tile producer, said yesterday full-year 2010 net profit rose 3.2 per cent to Dh270.2 million, mainly on reduced cost of sales and lower indirect expenses.

According to a statement on the Abu Dhabi bourse website, full-year earnings per share fell to Dh0.40 in 2010 from Dh0.43 a year ago, while revenues dropped to Dh3.34 billion from Dh3.77 billion during the period.

Cost of sales for 2010 fell to Dh2.51 billion from Dh2.86 billion in 2009, while indirect expenses dropped to Dh643.6 million from Dh704.1 million during the period, Rak Ceramics said. The company's shares closed up 1.5 per cent at Dh2.64 Thursday on the Abu Dhabi bourse.

Cement profit drops

Also yesterday, Ras Al Khaimah Cement Company, or RAK Cement, disclosed its preliminary results for 2010.

The company said it had a revenue of Dh227.37 million in 2010, versus Dh283.50 million in 2009, a decrease of 20.5 per cent.

Net loss for the period was Dh3.94 million versus a profit of Dh71.80 in 2009 -- a drop of 105.5 per cent.

The board of directors decided to pay no dividend for the fiscal year 2010.

rak ceramics

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Publication:Gulf News (United Arab Emirates)
Article Type:Financial report
Geographic Code:7UNIT
Date:Feb 7, 2011
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