The financial statements of RAK Ceramics showed a jump in the company's profits during the first half of this year by about 953%, on an annual basis.
According to the company's results for the Abu Dhabi market, today, Wednesday, the profits for the period amounted to 148.5 million dirhams, compared to 14.1 million dirhams, profits for the same period in 2020.
The company attributed the reason for the increase in profits during the current period to the increase in revenues by 42% compared to the same period last year.
The profit margin rises to 36.5% compared to 31% during the first half of 2020; Because revenue rises more than direct costs.
It is also due to the fact that the results of the current period included a profit from the sale of its remaining assets in China at a value of 50.1 million dirhams.
In addition to a loss resulting from the cancellation of recognition of the rental surplus recognized in previous years, amounting to 27.2 million dirhams, compared to nothing during the corresponding period of the previous year.
