Abu Dhabi-Mubasher: Umm Al Qaiwain Cement Industries Co. reported losses of AED 23.9 million ($6.5 million) in the fourth quarter of 2015, against profits of AED 24.42 million ($6.65 million) in the same quarter of 2014, according to a bourse filing on Sunday.

The company turned to losses of AED 29.2 million in the fiscal year 2015, against profits of AED 5.82 million in the fiscal year 2014.

Shareholders’ equity declined 11.4% to AED 623.05 million in FY15, compared to AED 703.29 million in FY14.