Umm Al-Qaiwain Cement Second-Quarter Net Drops 96% on Investment

28/07/2009 00:00 AST

Umm Al-Qaiwain Cement Industries Co., a United Arab Emirates-based cement producer, said second- quarter profit slumped 96 percent on investment losses and impairment provisions.

Net income declined to 2.9 million dirhams, or 0.008 dirham a share, from 81.4 million dirhams, or 0.224 dirham, in the year- earlier period, the company said in a statement to the Abu Dhabi bourse today. Sales fell 5 percent to 29.6 million dirhams.


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