Abu Dhabi – Mubasher: The consolidated financial results of Ras Al Khaimah Ceramics (RAK Ceramics) showed a AED 47.18 million net profits attributable to the owners in the first nine months of 2020, down from AED 129.29 million in the year-ago period.

The company's revenues declined by 13.8% to AED 1.63 billion in the January-September period of 2020 from AED 1.89 billion in the same period of 2019.

The earnings before interest, tax, depreciation, and amortisation (EBITDA) recorded AED 240.1 million in the first nine months of 2020, down 31.1% from AED 348.5 million in the year-ago period.

The basic and diluted earnings per share (EPS) settled at AED 0.05 in the first nine months of 2020, against AED 0.13 in the corresponding period of the earlier year.

During the third quarter (Q3) of 2020, the company's net profits decreased to AED 33.07 million from AED 39.12 million in the same quarter of 2019.

It is noteworthy to mention that in the first half (H1) of 2020, the company's net profits retreated to AED 14.1 million from AED 90.17 million in the same half of the previous year.