FINANCIAL NEWS

RAK Ceramics reports 20% jump in annual profits

24 Apr 2010

(MENAFN) The Chairman of RAK Ceramics, the world?s largest ceramic tile manufacturer, said that the company posted a net profit of $71.4 million for the year 2009, registering a 20.2 percent increase from $59.4 million in 2008, Khaleej Times reported.

The company also saw its total sales surging to $1.03 billion in 2009 from $880 million in 2008, the chairman said.

He pointed out that 2009 has been a milestone year for the company despite the prevailing global economic conditions as RAK Ceramics for the first time crossed annual revenue of $1 billion.

The company reported global sales of 100.7 million square meters of ceramic tiles in 2009, up from 92.3 million square meters in 2008 and global sanitary wares sales climbed from 2.8 million pieces in 2008 to 3.5 million pieces in 2009.

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