Raysut Cement Company reports OMR19.69m profit rise

Raysut Cement Company reports OMR19.69m profit rise
Published: 20 November 2007

Raysut Cement Company (RCC) reported a net profit of OMR19.69m as against OMR 15.68m registered during the same period in 2006, an upsurge of 25.6 per cent.

The growth resulted from a 418 per cent climb in domestic sales volume and a substantial rise in the selling price of cement per tonne. The companys sales revenue moved up by 19 per cent to OMR43.34m from OMR36.43m, while earnings per share stood higher at OMR0.098 as against OMR0.078 for the year ago period.

RCCs net profit margin bettered to 45.4 per cent during the nine months of 2007 from 43.1 per cent in 9M06. A favourable market condition, improvement in operating efficiency, and the newly-commissioned 2,200 tpd clinker plant helped the company to achieve better earnings. The companys cost of sales increased by 19.4 per cent to OMR24.32m compared to OMR20.37m recorded in 9M06.