(MENAFN) Net profit of Ras Al Khaimah-based RAK Ceramics registered a surge by 2 percent during the third quarter of 2019, a positive performance attributed to a boost in operating profit.
The giant UAE ceramics producer witnessed the net profit jumping to stand at Dh39.1 million during the third quarter ending September.
Meanwhile, a 3.4 percent year-on-year increase was posted in the giant's operating profits with revenues declining 5 percent to hit Dh636m.
Group chief executive Abdallah Massaad stated "our performance has been in line with expectations amid challenging market conditions. Excess supply of ceramics globally has put pressure on prices and has created a competitive environment."
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