UAE: Apex Investment logs over $51mln profits in 2022
Apex Investment Company generated AED 187.19 million net profits in 2022, higher than AED 2.98 million in 2021, according to the consolidated income statements.
The ADX-listed company, formerly known as Ras Al Khaimah Cement (RAK Cement), posted an annual hike in revenue to AED 820.29 million during January-December 2022, versus AED 166.74 million.
Meanwhile, the basic earnings per share (EPS) jumped to AED 0.061 last year from AED 0.006 in 2021.
During the first nine months (9M) of 2022, the net profits of Apex Investment reached AED 153.62 million, compared to AED 10.77 million in the year-ago period.
Revenues widened to AED 646.06 million in 9M-22 from AED 122.79 million in 9M-21, while the basic and diluted EPS surged to AED 0.053 from AED 0.021.
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