Oman Cement H1 net up significantly

Oman Cement H1 net up significantly
Published: 01 August 2005

Majority state-owned Oman Cement Company said on Sunday net profit grew 25 per cent to 8.2 million rials (US$21.30m) for the first half of 2005, helped by rising cement prices.  Oman’s leading cement producer said its sales climbed to 925,078t from 803,204t, and revenues rose 38 per cent to 22.12 million rials. The average selling price rose 27.4 per cent during the first half of 2005, over the same period last year, the firm said.  Oman Cement has said it will boost its production capacity by 88 per cent to 3Mta, to meet increasing demand in local and international markets which have helped buoy prices in the Gulf Arab state.