Oman’s Raysut Cement Company (RCC) said its first-half net profit shot up 100.6 percent to 10.07 million rials ($25.98 million) on enhanced production capacity.
RCC last year raised its paid-up capital to OMR19.91m from OMR15m through a rights issue to part finance its expansion and upgrading projects.
The official said detailed financial result would be announced after the company’s board meeting on July 27. The company’s share edged up by 0.55 per cent to close at 0.906 rial amid 438,734 shares changing hand on Thursday.
"Expansion of installed capacity to 2.25Mta last year helped the company to achieve better results," said the official. RCC’s third production line came on stream in last October, taking the total capacity to 2.25Mta from 1Mta.