After the acquisition of
In addition, the company is expanding its business in Bangladesh through a new project. It is estimated that the annual capacity of sanitary ware will increase by 400000 pieces by 2024, and the annual capacity of ceramic tiles will increase by 4.8 million square meters by 2025.
In the first half of this year, the company's consolidated revenue was 1.71 billion dirhams (about 3.139 billion yuan), up 20.1% year on year; The net profit is AED171.9 million. In the second quarter alone, the revenue was 927 million dirhams (about 1.7 billion yuan), up 32.3% year on year.
In the first half of the year, the company executed two acquisitions worth nearly 350 million dirhams (about 640 million yuan). The first deal was the acquisition of Kludi Group in Germany, which also increased RAK's revenue by 50.4 million dirhams in the second quarter. At the same time, RAK's whole group's bathroom sector revenue increased by 10.3% in the first half of the year, reaching AED 301.2 million (about RMB 552 million).
The second transaction is to purchase 40% of the shares of minority shareholders in cash, increasing the ownership ratio of RAK Ceramics to 90%. 37% of them were completed on June 30, 2022.
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Add: Foshan, Guangdong, China.528200
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