Khaimah, UAE, March 12, SPA -- RAK Ceramics, the Ras Al Khaimah based global ceramic major, has announced a distributable net profit of Dh137.8 million for the year 2006, up from Dh128.16 million in 2005. The annual general assembly of RAK Ceramics held at Hotel Al Hamra Fort yesterday also approved a 20 percent bonus share issue to the shareholders, reported WAM today. According to the annual report, total sales of the company surged to Dh1.68 billion in 2006 from Dh1.29 billion in 2005. The total assets of the company swelled from Dh2.69 billion to Dh3.82 billion during the period. According to the report, RAK Ceramics has made considerable investments in new subsidiaries which include a 51 percent stake in the new firm Kludi RAK LLC, which would manufacture water taps and faucets and other sanitary ware accessories, entailing an investment of Dh6.1 million. -- SPA
