Oman: Raysut’s nine-month net profit down

Oman’s largest cement producer, Raysut Cement Co (RCC), said its net profit for the first nine months of this year fell 24.24 per cent to OMR15.81m (US$41m).

The company’s revenue edged down to OMR69.38m from OMR70.76m, while the cost of sales rose to OMR43.88m from OMR40.16m, the company said in a stock market filing.

Gross profit also slipped to OMR25.50m, against OMR30.59m for the nine-month period of 2014.

The preliminary results are subject to approval by the company’s Audit Committee and Board of Directors.

RCC’s current clinker capacity is 2.4Mta and its cement capacity is 3Mta, accounting for 83 per cent of the country’s capacity.