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.
Optimisation 2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.
David Bizley, Editor of World Cement, sat down with John Kline, Chairman of the IEEE East Coast Virtual Conference, to hear his thoughts on the impact of the pandemic on the cement industry, this year's virtual conference, and more.