RAK Ceramics targets Saudi Arabia amid regional slowdown

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Thu, 2020-02-13 00:59

LONDON: RAK Ceramics, the UAE-based tile-maker, wants to boost its Saudi business amid a tough market elsewhere in the Gulf.

The Kingdom emerged as a rare regional bright spot as it reported earnings on Wednesday that were defined by “challenging market conditions and increased competition in export markets,” it said in a statement.

“Saudi Arabia has been a strong market for us predominantly in tiles, where we witnessed a substantial growth in the fourth quarter which reflected positively on the year-on-year growth,” said RAK Ceramics CEO Abdallah Massaad.