According to reports, Raysut Cement reported a decrease in 3Q15 net profit to OR4.84 million from OR5.29 million in 3Q14. This exceeds analysts’ expectations, which had forecast a quarterly net profit of between OR4.2 and 4.3 million.
In the nine months to 30 September, the Omani cement company’s profit reached OR15.8 million and revenue was OR69.4 million . This marks a reduction from the figures achieved in the same period of the previous year, which were OR20.9 million and OR70.8 million, respectively.
These unaudited figures are subject to approval by the company’s Board of Directors.
In August, we reported that Raysut Cement is setting up a subsidiary named Barqaaqo Cement Company to supply cement to Somalia.
Edited from various sources by Katherine Guenioui
Sources:
Read the article online at: https://www.worldcement.com/africa-middle-east/14102015/preliminary-results-show-dip-in-profit-for-raysut-cement-773/
