Latest news with #operationalefficiencies
Zawya
2 days ago
- Business
- Zawya
UAE: RAK Ceramics' revenue grew 6.4% YoY to $225.1mln in Q2
RAK Ceramics PJSC announced its financial results for the second quarter ended 30th June 2025. Total revenue increased by 6.4% YoY to AED826.8 million and by 2.9% to AED1.6 billion in H1 2025 as a result of strong demand from the UAE and Middle East as well as effective cost management. In Q2 2025, the gross profit margin increased by 110bps to 40.6% YoY and in H1 2025, it increased by 70bps to 40.2%, driven by enhanced operational efficiencies which have contributed to higher gross profit margin, reinforcing RAK Ceramic's market leadership. EBITDA increased by 17.5% to AED160.8 million in Q2 2025 compared to AED 136.9 million in the same period last year. Similarly, in H1 25 EBITDA increased by 2.9% to AED296.4 million, while EBITDA margins have increased by 1.9% to 19.5% in Q2 2025 up from 17.6% in Q2 2024. In H1 2024, EBITDA margin remained consistent at 18.5%. Profit before tax increased by 45.0% YoY to AED86.7 million, compared to AED59.8 million in Q2 2024. Net profit after tax increased by 30.1% YoY to AED66.4 million, compared to AED51.0 million in Q2 2024. In line with the increased profitability across the businesses. UAE Corporate tax was AED17.2 million in Q2 2025, up from AED6.5 million in Q2 2024. Net debt position rose by AED120.6 million to reach AED1.56 billion in Q2 2025, compared to Q1 2025, primarily driven by increased capital expenditure and working capital requirements. Commenting on the results, Abdallah Massaad, Group CEO, RAK Ceramics, said, "I'm pleased to report that Q2 2025 delivered solid revenue growth alongside strong operational performance, a reflection of the strength and adaptability of RAK Ceramics across the globe. Our ability to drive both volume and value growth in key markets, while successfully navigating regional headwinds, further underscores the effectiveness of our diversified strategy. "Looking forward, we're continuing to innovate our operations and accelerate initiatives that will strengthen our position in the market and continue to drive profitability across all divisions."
Bloomberg
3 days ago
- Business
- Bloomberg
Fiserv, UPS, and Regions Bank on Creating the Data Foundation for an Optimal Customer Experience
Prasanna Dhoré, Chief Data Officer, Fiserv; Mallory Freeman, President, Global Enterprise Data Analytics & GenAI, UPS; Manav Misra, Executive Vice President & Chief Data & Analytics Officer, Regions Bank; join Bloomberg's Niraj Patel for a conversation about the data foundation that enables AI to create operational efficiencies and an optimal customer experience at The Business Value of AI event in Atlanta. (Source: Bloomberg)
Yahoo
07-08-2025
- Business
- Yahoo
The Toro Company Announces Sale of Trencor Brand and Auger Boring Category Under the American Augers Brand
Strategic actions aimed at supporting future growth in core segments, driving operational efficiencies, and building a leadership position in the underground construction industry BLOOMINGTON, Minn., August 07, 2025--(BUSINESS WIRE)--The Toro Company (NYSE: TTC), a leading global provider of solutions for the outdoor environment, today announced the sale of its Trencor equipment brand and the auger boring product category, a subset of the American Augers brand. Terms of the transactions were not disclosed. With the divesture of the auger boring product category, The Toro Company will continue to manufacture American Augers' line of underground equipment including large horizontal directional drills, pumps and fluid cleaning systems at its West Salem, Ohio, location. The divesture of Trencor includes assets specific to the full line of large-track trenchers and mining equipment. "Today's announcement within our construction portfolio places additional focus on the core underground categories that will provide the greatest growth opportunity and best position our business for future success," said Peter Moeller, group vice president, Construction Businesses at The Toro Company. "Supported by demand in the pipeline, water and energy transmission sectors, we are excited about the near and long-term prospects for our underground construction business and our ability to deliver cutting-edge solutions to meet the needs of our customers." These transactions represent The Toro Company's commitment to disciplined portfolio management and prudent capital allocation strategies. It also represents an opportunity for The Toro Company to remain competitive in its core underground construction markets with a focus on efficiency improvements and synergy gains. Revenue for each business component have historically been included in the company's professional segment results. Trencor and American Augers became part of The Toro Company through the acquisition of Charles Machine Works in 2019, which includes Ditch Witch and other leading underground construction brands. About The Toro CompanyThe Toro Company (NYSE: TTC) is a leading worldwide provider of innovative solutions for the outdoor environment including turf and landscape maintenance, snow and ice management, underground utility construction, rental and specialty construction, and irrigation and outdoor lighting solutions. With net sales of $4.6 billion in fiscal 2024, The Toro Company's global presence extends to more than 125 countries through a portfolio of brands that includes Toro, Ditch Witch, Exmark, Spartan, BOSS, Ventrac, American Augers, Subsite, HammerHead, Radius, Perrot, Hayter, Unique Lighting Systems, Irritrol, and Lawn-Boy. Through constant innovation and caring relationships built on trust and integrity, The Toro Company and its brands have built a legacy of excellence by helping customers work on golf courses, sports fields, construction sites, public green spaces, commercial and residential properties and agricultural operations. For more information, visit View source version on Contacts Investor Relations Jeremy SteffanDirector, Investor Relations(952) 887-7962, Media Relations Branden HappelSenior Manager, Public Relations(952) 887-8930, Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-08-2025
- Business
- Yahoo
Dole offloads fresh-veg arm to Arable Capital
Dole has sold its fresh vegetables division in the US to Arable Capital Partners, following a previous unsuccessful attempt. In a joint statement, the New York-listed group said it had sold the unit to the holding company of packaged salads maker Organicgirl, which sits in Arable's portfolio, for $140m. Carl McCann, executive chairman of Dole, said the 'combination with Organicgirl will create a strong platform to realise operational efficiencies and expand the overall offering and service to customers and consumers'. McCann added that the sale will 'enable us to further concentrate our efforts and investments on our core business activities'. Dole confirmed it will retain its facilities in Huron, California, and Yuma, Arizona following the transaction. The company had been trying to sell its fresh vegetables arm for over two years. In 2023, the group tried to sell its fruit and veg business in the US to a subsidiary of local peer Chiquita Holdings for $293m. However, the transaction had been subject to regulatory approval from the US Department of Justice, which seemingly was not granted, prompting Dole to call off the sale. The fresh vegetables division focuses on the processing and sale of whole produce such as iceberg, romaine, and leaf lettuce, along with cauliflower, broccoli, and salad kits. The business has agricultural operations and three processing plants across the US, employing more than 3,000 people. As of 31 March, the fresh vegetables business' current assets held for sale amounted to $318.8m, while current liabilities in the unit held for sale were valued at $206.4m, the company said it its first quarter results. Derek Yurosek, managing director of Arable Capital Parners, said: 'With strong brands and presence across multiple channels, as well as strong leadership, Dole Fresh Vegetables is an outstanding addition to our portfolio that is positioned for continued growth and success.' Arable also purchased assets from Dole in February last week. The fresh produce major agreed to sell its 65% stake in its North American Progressive Produce business to Arable for a sum of $125.2m. "Dole offloads fresh-veg arm to Arable Capital" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
