Abu Dhabi – Mubasher: Abu Dhabi National Company for Building Materials (Bildco) reported losses of AED 3.3 million ($0.898 million) in the first quarter of the year, against a net profit of AED 5 million ($1.36 million) in Q1-14, according to a bourse filing.

Loss per share (LPS) fell to 0.011 fils against a profit of 0.017 fils in Q1-14.

Shareholders’ equity stood at AED 371.9 million by the end of Q1-15, down from AED 402.6 million as at 31 December 2014.

Revenues grew to AED 8.5 million in Q1-15, compared to AED 7.276 million in the same period the year before, while cost of sales increased to AED 9.17 million from AED 7.969 million in Q1-14.

The building materials firm said it expects a growth in its revenues in 2015 from commercial production at the Dubai Aerated Block Factory, which was opened in the first quarter this year.