Oman Cement nine-month net profit declines

Oman Cement Co (OCC) made a net profit of OMR11.4m in the first nine months of 2014, down 8.1 per cent from OMR12.4m in the same period last year, the producer said in a bourse statement on Tuesday.

In third quarter alone, the company saw a decline in net profit compared to the same period of last year, according to Reuters calculations. OCC posted a profit after tax of OMR2.3m (US$6m) in the three months to 30 September, versus OMR3.8m in 3Q13, Reuters calculated based on financial statements. Three analysts polled by Reuters had expected the firm on average to make a net profit of OMR4.06m.