The Abu Dhabi National Company for Building Materials (Bildco) has narrowed its 2021 losses by more than half despite a sharp drop in revenue which fell 37 per cent to AED31 million ($8.4 million) from AED49.8 million ($13.5 million) in 2020.
A major player in the UAE, Bildco supplies building materials to construction companies in addition to distribution of cut and bent steel, cement blocks, paving stones, reinforcing rods, plywood, cement, industrial hardware, and ceramic tiles.
For FY 2021, Bildco had posted a net loss of AED41.62 million ($11.2 million) compared to AED98 million the previous year. Its operating losses stood at AED840,000, it added.-TradeArabia News Service
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