Bullish outlook on RAK Ceramics from EFG-Hermes | The National

Bullish outlook on RAK Ceramics from EFG-Hermes | The National:



"RAK Ceramics, one of world’s biggest makers of ceramic tiles and bathroom fixtures, is expected to grow its profit by 10 per cent a year through 2019.



The profit will be driven by a revenue increase of 7 per cent a year, planned expansion at the Ras Al Khaimah-based firm and improved margins, the Egyptian investment bank EFG-Hermes said.



The bank initiated coverage of RAK Ceramics with a “buy” rating, and a fair value of Dh4.30 per share. The shares closed up 0.9 per cent at Dh3.30 in Abu Dhabi."



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