Oman Cement Q2 net falls 14 per cent

Oman Cement Q2 net falls 14 per cent
Published: 08 August 2007

Oman Cement Co. posted a second quarter net profit of OMR4.15m ($10.78m), down 13.7 per cent from a year earlier as production fell partly due to disruption caused by Cyclone Gonu.  
 
The company said in a statement that its first-half net profit fell 7.1 per cent to OMR9.1m. "The clinker produced during the first six months of 2007 was 542,495t as against 647,450t produced during the corresponding period of 2006," the company said in the statement.  
 
Clinker production was affected by major maintenance work at the plant and disruption caused by Gonu, which hit the Gulf Arab state in June.  
 
Sales grew 9.5 per cent to OMR26m, while sales volume was up 7.9 per cent to just over 990,000t.  
 
The company recently commissioned its new 1Mta cement plant, raising total annual production capacity to 2.5Mt.