RAK Ceramics Announces Q3 2020 Financial Results

RAK Ceramics Announces Q3 2020 Financial Results

RAK Ceramics, which is touted as one of the largest ceramics' brands in the world, has announced its financial results for Q3 2020.The company's Q3 performance has gained momentum as markets are showing signs of recovery from the impact of COVID-19.The speed and trajectory of demand remains uncertain, however, quarter-on-quarter revenue has increased by 52.1%.Based on growing market demand, production in the UAE has scaled up to meet demand from Saudi Arabia, with production in India and Bangladesh also resuming in phases.The tableware business continues to suffer due to the impact of COVID-19 on the hospitality and airline sectors. Excluding the tableware business, the company noted a total revenue increase by 4.8% year-on-year.As per its fiscal report for the quarter ended 30