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The ARAM Group Company has released its Management Discussion and Analysis (MD&A) report for the first quarter of 2024, ending on 31st March. The report provides detailed insights into the company's financial performance, strategic decisions, and future outlook.

The text is about the interim condensed consolidated financial statements, which are not audited, of Sharjah Cement and Industrial Development Co. (PJSC) and its subsidiary as of 31st March 2024.

The text refers to the independent auditor's review report and condensed consolidated interim financial statements of Fujairah Cement Industries PJSC and its subsidiary. The report covers the financial performance for the three-month period ending on March 31, 2024. The information provided is unaudited.

Fujairah Cement Industries PJSC reported a loss of AED 38,341,852 for the three months ending 31/03/2024. This significant loss was primarily due to the suspension of the company's clinker and cement sales during Q1-2024, resulting in a 99.67% decline in revenue compared to Q1-2023. Other financial details include a gross loss of AED 94,850, selling & distribution expenses of AED 577,099, general & admin costs of AED 2,154,691, production idle cost of AED 24,075,115, and finance costs of AED 10,705,866. The company's total assets stood at AED 1,299,128,191, with equity & reserves at AED 383,500,657. The cash and bank balance at the end of the period were AED 6,639,286. Key performance indicators showed a gross loss ratio of -34.05%, a net loss ratio of -13,763%, a cash loss ratio of -8,019%, and a loss per share of -0.108 UAE Dirhams.