Oman Cement Co has recently updated the Muscat Stock Exchange (MSX) regarding its initial unaudited financial results for the first quarter of 2025, indicating a decline in profitability compared to the same period last year.
According to a bourse filing signed by Zhu Yaping, CEO, for the three months ended 31 March 2025, the company reported total revenues of OMR18.43m (US$47.9m), a 1.8 per cent decrease from OMR18.77m in the 1Q24. Meanwhile, total expenses increased by 0.73 per cent, reaching OMR14.92m.
The net profit before tax fell by 11.3 per cent to OMR3.51m, down from OMR3.96m in the 1Q24. After accounting for a tax provision of OMR528,870, net profit after tax was OMR2.99m, reflecting an 11.4 per cent YoY decline.
The company clarified that these results are preliminary and unaudited, pending approval by the Audit Committee and Board of Directors.
by Abdul Rab Siddiqi, Pakistan.
