Raysut Cement Co, Oman’s largest producer of cement, made a third-quarter net profit of OMR5.61m (US$14.57m), almost three times more than in the same quarter last year.
Net income in the three months to Sept. 30 rose 177 per cent from OMR2.02m in the year-earlier period, according to Reuters calculations based on nine-month data the company released on Sunday. The company did not give figures for the third quarter.
Net profit in the first nine months more than doubled to OMR15.68m, spurred by more sales and lower financing costs, according to the company data.
Net income in the nine-month period to Sept. 30 rose 123 per cent from OMR7.04m in the year-earlier period, according to the company.
Sales rose 73 per cent to m. Financing costs fell by two-thirds to OMR111,000, it said.