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RAK Ceramics posts 9% increase in 2012 profit
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RAS AL KHAIMAH: RAK Ceramics’ position as a global leader in ceramics and as one of the UAE’s most succesful companies was reinforced by another stellar operational  and financial performance for the year ending December 2012.

The world’s largest ceramics manufacturing company’s annual results, delivered  to the Abu Dhabi Stock Exchange on Sunday, revealed a 9 per cent increase in the profits attributable to the shareholders of the company increasing from Dhs205.2 million in 2011 to Dhs223.1 million in 2012.  The company also reduced its net loans during the year 2012 by Dhs353 million. The board of directors of the company has proposed a cash dividend distribution of 20 per cent amounting to dividend of 20 fils per share.

The company has proposed the cash dividend after a period of 8 years. The board has approved to adopt a dividend policy in line with market best practices with stable operations in companies.

“We are delighted to have delivered another strong performance against the backdrop of the challenging global economic situation, maintaining our track record of positive financial achievements consistently delivered over a period of two decades,” said Abdallah Massaad, CEO of RAK Ceramics. “Under the direction of H.H. Sheikh Mohammed Bin Saud Al Qassimi, Crown Prince of Ras Al Khaimah and the Chairman of RAK Ceramics, the company is implementing the reorganisation and refocusing programme which includes investment in the core ceramics business, disinvestment of some of its non-core operations and reduction of loans strengthening the overall financial performance of the company” added Massaad.

The increase in profits of the Company in context of continued tough market conditions in different markets reflects the inherent robustness of the company’s strategy of sustainable growth backed by exports to over 160 countries and results of the refocusing program to deliver improved profitability. The Company’s performance in 2012 improved largely due to significantly better results in the Core Ceramics segment of its businesses which reported an increase of 48 per cent from previous year.

Massaad further added “RAK Ceramics has evolved from a simple manufacturer into a company which today delivers complete interior solutions in terms of tiles, bath ware, faucets, kitchen fittings and other auxiliary products to better cater to the discerning tastes of a growing client base in an ever-increasing and demanding international markets. Our status as one of the top global players in the ceramics market was reinforced by the strong sales number in 2012 as a result of investment in new technology and expansion in our production outputs. Penetration into new market segments with pioneering technology, innovative designs and solutions are seen as key to our future growth.”

The company has also announced projects for expansion of tiles, sanitary ware and tableware capacities to address the growing demand for its products besides investments in upgrading the technology for next generation products, continuing the track record of innovation in global ceramic marketplace. During the last year RAK Ceramics achieved a remarkable milestone of achieving cumulative sales of over one billion square meters of tiles that is unprecedented for ceramics manufacturing company in the region and in the current year has reached another unique milestone of achieving cumulative sales of 50 million pieces of bath ware products.

 “RAK Ceramics’ phenomenal success reflects that with dedication and innovation, global brands can be created and nurtured to meet the vision of the UAE leadership envisaging a diversified economy with global quality.” says Massaad. “RAK Ceramics has significant potential for further future growth and to contribute to regional economic development as there are clear opportunities in global markets for efficient and responsive UAE-based companies to deliver quality products consistently.” RAK Ceramics is approximately $1 billion global conglomerate that supplies to over 160 countries and has been officially recognised as the world’s largest ceramics manufacturer with a global annual production output of 117 million square meters, 4.5 million pieces of bathware and 20 million pieces of tableware.

RAK Ceramics offers a comprehensive product portfolio comprising over 8,000 designs in ceramic tiles, Gres Porcellanato, and several models in bathware. RAK Ceramics has sold a staggering over ‘One Billion Square Meters’ of tiles worldwide since production commenced in 1991, and recently the company reached an equally impressive milestone in terms of bathware, having sold over 50 million pieces worldwide since 1993.
RAK Ceramics has earned distinctions such as the Best Brand of 2010 and CSR Company of 2011 at Middle East Business Leader’s Summit and Awards and the CMO Asia’s Best Brand 2011.  Recently RAK Ceramics has won the Most Innovative Company at Asian Quality Leadership Awards 2012 and bagged the Brand Excellence Award 2012 at 21st World Brand Congress Summit.

The company was also honoured by the Emirates Securities and Commodities Authority (SCA) for complying with good governance and transparency according to best international practices. RAK Ceramics has also maintained its Superbrand status for the fourth consecutive year and continues to be a global pioneer in the world of ceramics through innovative eco-friendly products such as RAK SLIM, Wood Art Collection, Stone Art Collection and Orion Collection using the latest Nanopix digital printing technology. RAK Ceramics is also the founding member of Emirates Green Building Council, which supports the development of sustainable buildings in the UAE.

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