Cement News tagged under: Oman
Oman: Port of Duqm to build cement terminal22 August 2012, Published under Cement NewsOman is set to increase imports of cement and bitumen with the establishment of new terminals at the Port of Duqm. Both facilities are indispensable to supporting the speedy and cost-effective development of the region’s ambitious Special Economic Zone (SEZ), according to a senior official of the port authority. “We are finalising negotiations with a well-known Omani cement manufacturer for the development of a cement import terminal on the quayside at Duqm Port,” said Reggy Vermeulen, com... |
Middle East market developments13 August 2012, Published under Cement NewsCement producers in the Gulf Cooperation Council (GCC) nations witnessed a 24.3 per cent increase in revenues in the first quarter of 2012, reaching US$1.26bn (AED4.62bn) as construction picked up in certain parts of the Middle East. Saudi Arabia continues to be the region's strongest market, but improvements are being seen in the UAE and Qatar is gathering pace. However, a challenging operating environment persists in Egypt. According to a report by Global Investment House (GIH), combine... |
GCC first-quarter revenues rise08 August 2012, Published under Cement NewsGCC cement companies witnessed a 24.3 per cent increase in revenues in the first quarter, reaching US$1.26bn (AED4.62bn) as construction picked up in certain parts of the region, according to a recent report. The industry's profits rose to US$435.6m, compared to US$359.54m in the first quarter of last year, a growth of 21.2 per cent. However, according to Global Investment House's report, net margins suffered a fall of 90.4 basis points during the period. Gross margins witnessed a 233.6 b... |
Raysut books first half net profit, Oman07 August 2012, Published under Cement NewsRaysut Cement, Oman's largest cement company by market value, said in a bourse filing yesterday it booked a profit of OMR10.5m (US$27.3m) in the first half of 2012, up 38 per cent YoY. The strong performance was a result of a 13 per cent rise in sales, to OMR33.9m. |
Raysut’s CEO to step down, Oman01 August 2012, Published under Cement NewsOman’s leading cement producer Raysut Cement has announced the resignation of its CEO Mohamed Ahmed Al Dheeb. The Board of Directors have requested Mr Al Dheeb remain in his position until 31 March 2013 so that a replacement can be found, the company said in a statement to the Muscat bourse. |
Oman Cement first-half profit rises 23%31 July 2012, Published under Cement NewsOman Cement has reported a 23.01 per cent in net profit for the first half of 2012. Earnings rose to OMR9.02m (US$23.4m) compared to OMR7.3m in 1H11. Cement sales advanced 20.22 per cent to 1.36Mt in the six months to June compared to 0.94Mt in the corresponding period of last year. Turnover was up 13.11 per cent to OMR28.065m. Clinker production increased to 1.05Mt from 0.68Mt during the first half of last year. The company imported 15,099t of clinker to meet a temporary shortfall dur... |
Oman expected to raise prices in 201328 May 2012, Published under Cement NewsOmani cement producers will be able to raise prices by 2013 as dumping from the oversupplied UAE market slows and demand improves domestically and abroad, according to analysts, the Muscat Daily reports. A BankMuscat research report said that the drop in domestic price realisations took a 'halt' in the first quarter this year after six quarters of continuous declines, while the export realisation uptick came as a positive surprise. The report said, “Realisations have largely stabilised at ... |
GCC cement sector profits increase – report25 May 2012, Published under Cement NewsGCC cement sector profits increased 21.2 per cent in 1Q12 and net profits increased from US$359.5m in 1Q11 to US$435.6m in 1Q12, according to a report by Global Investment House (GIH). However, net margins witnessed a fall of 90.4 bps. Revenue, on the other hand, increased 24.3 per cent to reach US$1.26bn, the report said. Gross margins witnessed a 233.6bps increase in Q1, 2012 to reach 43.7 percent as compared to 41.4 percent, which was due to increase in selling price along with drop... |
Oman cement output rises03 May 2012, Published under Cement NewsUntil recently, Omani cement manufacturers were victims of the cheap inflow of cement from UAE, but the Oman Daily Observer has reported that domestic cement producers are ramping up production to meet rising local demand and that in export markets such as Yemen and some East African nations. In 2011, imports met 25% of cement demand in Oman, mainly from UAE where a weak construction sector resulted in excess supply of cement. However, UAE producers recently increased cement prices. Ceme... |
Raysut Cement group profits rise, Oman01 May 2012, Published under Cement NewsOman-based cement producer, Raysut Cement reported net profit before tax rose 37.4 per cent to OMR6.84m for the first three months of 2012, from OMR4.98m (US$13m) in the same period last year. Pretax profit alone increased 26 per cent to OMR5.59m from OMR4.45m during the period under review. Total group revenue stood higher at OMR24.64m for the first quarter from OMR20.24m posted for the same period of 2011. "In spite of the price competition from the UAE suppliers and the volatility in... |