RAK Ceramics’ profits level down in H1-22; dividends approved

Abu Dhabi – Ras Al Khaimah Ceramics’ (RAK Ceramics) net profits attributable to the owners edged down to AED 147.77 million during the first half (H1) of 2022, compared to AED 148.49 million in H1-21.

Revenues jumped by 20.10% year-on-year (YoY) to AED 1.71 billion in the first six months (6M) of 2022 from AED 1.42 billion, according to a bourse statement.

The basic and diluted earnings per share (EPS) stood at AED 0.15 in H1-22, unchanged from H1-21.

During the second quarter (Q2) of 2022, RAK Ceramics posted a surge in net profit attributable to the owners to AED 91.18 million, versus AED 87.81 million in the year-ago period.

Meanwhile, total revenues were AED 927.02 million in the April-June 2022 period, an annual rise of 32.30% from AED 700.77 million. The basic and diluted EPS settled at AED 0.09 in Q2-22.

In a separate bourse disclosure, the company’s board approved an interim cash dividend distribution of AED 0.10 per share for H1-22. The UAE-based firm will disburse cash dividends worth AED 99.37 million on 12 August.

Last year, RAK Ceramics reported net profits attributable to the owners worth AED 246.47 million, against net losses of AED 129.72 million in 2020.

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