Cement News tagged under: Raysut Cement
Raysut Cement’s 2012 net profit rises 64.1%, Oman18 February 2013, Published under Cement NewsRaysut Cement, Oman’s largest cement producer, reported a 64.1 per cent YoY growth in net profit for 2012 and revenues also increase fuelled by increasing demand. Net profit for the 12 months to the end of December 2012 reached OMR24.5m (US$63.6m) against OMR14.95m reported in 2011 as RCC booked an investment gain of OMR1.36m. Revenues also rose 10.7 per cent to OMR92.8m from OMR83.81m in the same period of last year. Oman’s cement sector, which was earlier facing problems because of t... |
Raysut CEO withdraws resignation, Oman20 December 2012, Published under Cement NewsMohammed Ahmed Al Dheeb has agreed to withdraw his resignation and continue working for Raysut Cement Company as the Group CEO. The board of directors had unanimously agreed to ask Mr Ahmed Al Dheeb to remain at the helm of the Oman-based cement producer. |
Oman: Duqm quarry sites identified13 November 2012, Published under Cement NewsPlans to build a multi-million rial cement plant in Oman's northern city of Al Duqm is progressing, with the promoters started identifying potential limestone quarry sites. The raw material is abundant around Duqm port and an extensive geological mapping has identified two main areas with nearly timeless quantities of high quality limestone. The Al Safiya area is located 15km west of the port and is primarily intended for the cement industry. In the Al Hydaybah area, 15-to-20km south of th... |
Raysut sees 62 per cent jump in pretax profit, Oman12 November 2012, Published under Cement NewsOman’s leading cement producer Raysut Cement, reported a 62 per cent rise in pretax profit for the first nine months of 2012 due to higher sales and better price realisations. The company said profit before tax for the nine months to September reached OMR19.11m (US$49.7m) from OMR11.83m for the same period last year. Revenue stood at OMR70.35m, a YoY increase of 12 per cent against OMR62.67m last year. Pioneer Cement, part of the Raysut Group, earned a profit of OMR3.77 against OMR1.49m... |
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 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... |
Raysut Cement seeks new funds, Oman18 April 2012, Published under Cement NewsRaysut Cement has announced that its Board of Directors has approved moves for a fresh term loan of OMR64m (US$166.2m) from three Omani banks. T he board has given its approval at a meeting held on Wednesday and, accordingly, Raysut will seek OMR64m in funding from BankDhorfar, BankMuscat and Oman Arab Bank to refinance the existing loan of a higher installment and interest totaling about OMR19m a year for a tenure of five years. According to Raysut, the new loan will help extend the... |
Raysut Cement to get US$166.2m loan to refinance debt, Oman13 April 2012, Published under Cement NewsOman's largest cement company by market value, Raysut Cement said its board of directors decided at a meeting on Wednesday to take a OMR64m (US$166.2m) term loan to refinance an existing five-year loan. The new loan, with a tenure of 10 years, will be provided by Oman-based Bank Dhofar. In mid-February 2012, the cement manufacturer said it booked a net profit of OMR14.95m in 2011, down from OMR20.7m a year earlier. In mid-February 2012, the cement manufacturer said it booked a net prof... |