Oman Cement has reported its results for the first half of this fiscal. Revenues were slightly down at RO25 528 041 from RO25 676 168 in June 2014. Net profit before tax fell almost 40% to RO6 023 764, due in part to an 8% increase in expenses to RO21 309 832. The company recently reported that it has completed maintenance work on its 4000 tpd kiln, which is now up and running. The kiln downtime and expense of the maintenance work had an impact on results, which were also affected by the rise in fuel costs after the government increased natural gas prices by 100%.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/africa-middle-east/13072015/oman-cement-reports-fall-in-profit-1h15-148/