Cement News tagged under: Oman
Oman: Raysut’s nine-month net profit down14 October 2015, Published under Cement NewsOman’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 Committe... |
Raysut Cement reports 30% drop in 1H profit15 July 2015, Published under Cement NewsRaysut Cement reported a net profit of OMR10.97m (US$28.5m) for the first six months ended 30 June when it was OMR15.59m in the same period last year, a decline of 29.7 per cent, the company said. On a quarterly basis, net profit fell by 18 per cent to 4.94 in the 2Q15 from OMR6.03m in the first quarter. Revenue stood at OMR46.83m, dropping by 5.4 per cent from OMR49.5m. On a sequential basis, revenue dropped by 8.3 per cent to OMR22.4m in the second quarter versus OMR24.43m in the firs... |
OCC first-half net profit down13 July 2015, Published under Cement NewsOman Cement Co (OCC) net profit declined by just over 40 per cent in the first half of this year to OMR5.44m (US$14.1m) from OMR9.09m in 1H14, the company said in its filing of initial numbers with the Muscat Securities Market. Revenue declined marginally to OMR25.53m in the first half of this year compared with OMR25.68mn in the corresponding period of 2014. Investment and other income fell sharply by 54.1 per cent to OMR1.8m from OMR3.94m. As a result, Oman Cement 's total revenue fell 7... |
Oman: OCC prolonged kiln shut down to impact 2Q performance29 June 2015, Published under Cement NewsOman Cement Co (OCC) said that the extended kiln closure of a 4000tpd line as part of planned maintenance will have an impact on it second-quarter performance. CEO, Jamal al Hooti, told Muscat Securities Market that the closure is resulting in lower production and sales which is likely to impact the performance of the company during the current quarter. |
Oman Cement awards FLSmidth contract for pollution control equipment13 May 2015, Published under Cement NewsOman Cement Co has awarded a US$11.3mn contract for the upgrade of pollution control equipment to FLSmidth, according to local press reports. In a filing with the Muscat Securities Market (MSM) on Sunday, Oman Cement said it has been putting its best efforts towards environmental improvements, adding: “In this direction to reduce emission levels, the company has awarded the work for upgradation of pollution control equipment for line-2 to FLSmidth. The company has issued a letter of intent ... |
Raysut sees sharp fall in operating profit06 May 2015, Published under Cement NewsOman-based Raysut Cement Co said operating profit fell sharply by 26.7 per cent in the first quarter of 2015 due to a doubling of the price of natural gas supplied by the government and rising transportation costs. Group operating profit fell to OMR6.02m from OMR8.23m in the same period of 2014. "This is mainly due to the increase in natural gas price by the government to US$3 per MMBtu from US$1.5 per MMBtu effective 1 January 2015 and increase in other costs," Raysut Cement said in its d... |
Oman Cement 1Q net profit up 3.7%16 April 2015, Published under Cement NewsOman Cement reported a 3.7 per cent rise in first-quarter net profit on Wednesday, beating analyst forecasts. The company made a net profit of OMR3.83m (US$9.95m) in three months to 31 March, up from OMR3.70m in the corresponding period of 2014. Three analysts polled by Reuters on average forecast the firm would make a net profit of OMR3.2m. Oman Cement’s first-quarter revenue rose 10.6 per cent to OMR15.94m. OCC's cement capacity will be increased from 2.6Mta to 3.8Mta, with the addition... |
Raysut full-year profit dips, Oman09 February 2015, Published under Cement NewsRaysut Cement reported full-year net profit of OMR27.42m (US$71.22m), 0.4 per cent lower than the OMR27.52m posted in the previous year. Revenue rose 1.1 per cent to OMR94,29m from OMR93.29m, according to a company filing with the Muscat Securities Market on Thursday. A research note by Gulf Baader Capital Markets (GBCM) said the company’s revenue was in line with estimates but earnings was below its forecast of OMR28.8m. According to GBCM, group sales volumes came in at 3.8Mt but ... |
Omani producers face hike in natural gas prices01 December 2014, Published under Cement NewsOman’s two leading cement producers are looking to mitigate the effects of an impending rise in natural gas prices which are expected to lead to an increase in the cost of cement production. The country’s Ministry of Oil and Gas (MOG) is to increase the price of natural gas as of 1 January 2015. The price will thereafter increase every year for both companies at rates specified by the ministry. Last week, an advisory body to Oman’s government suggested spending cuts and tax rises to cope w... |
Raysut Cement nine-month net profit up 8% YoY12 November 2014, Published under Cement NewsRaysut Cement, Oman's biggest cement producer, reported an eight per cent increase in net profit to US$60.21m compared with US$55.71m in the same period of last year. Revenue was US$183m for the period, just ahead of the US$182m recorded in the first nine months of 2013. "While there are positive signs of growth in Oman market, the same is not being translated into cement demand due to sever competitions from the UAE suppliers. The competitions are also experienced in the Yemen and ea... |