Built to inform

Sign up for the daily newsletters

No, Thank you

Raysut Cement reports $55m net profits for 2016

Total revenue of the company fell by 2.2% to $240.5m (OMR92.59m) in 2016, from $246m (OMR94.68m) in 2015

This image is for representation purposes only.
This image is for representation purposes only.

One of the largest cement manufacturers in Oman, Raysut Cement has reported a 1.02% growth in net profits of $54.8m (OMR21.17m) for 2016, against $54.4m (OMR20.95m) reached in 2015.

The company has noted the growth in profits despite a marginal fall in revenues, as well as the slowdown in the construction sector, Times of Oman reported.

Total revenue of the company fell by 2.2% to $240.5m (OMR92.59m) in 2016, from $246m (OMR94.68m) in 2015.

The cost of sales of the company edged up by 3.3% to $158.8m (OMR61.13m) in 2016, from $153.7m (OMR59.18m) in 2015.

The company’s basic earnings per share stood marginally higher at 106 baisas by end-December 2016, against 105 baisas in the same period in 2015.

These results are preliminary and have not been reviewed by the audit committee and external auditors, and have also not been approved by the board of directors, the report said.

Most popular

Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 761
Mar 21, 2020