22 Apr 2010
(MENAFN) Raysut Cement, Oman’s largest cement producer by market value, said that it has reported a 12.8 percent drop in first quarter net profit, as increasing competition and a drop in demand hit sales volumes.
Net income for the company fell to $17.66 million in the first three months to March 31, compared with $20.3 million in the first quarter of 2009, the company said in a statement.
Domestic cement sales plunged 35 percent while export sales dropped 25 per cent from the comparable period a year ago.
The company said it sees some improvement in the construction industry, starting in the second quarter, as the economy picks up.
Cement demand in Oman should rise by 6 to 8 percent in 2010, the firm’s chairman, Mohammed Muqaibal, said in the statement.
16 Mar 2023
BBK partners with Four Seasons Private Residences Bahrain Bay to offer ownership financing for 112 waterfront homes.
01 Mar 2023
You could be the next lucky winner.. BBK: BD 1.9 million prizes from Al Hayrat this year
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more