Oman’s cement producer Raysut Cement Co achieved a net profit of OMR2.283m (US$5.9m) in the first quarter of 2005, compared to OMR1.382m (US$3.6m) in the same period of 2004, Oman’s bourse Muscat Securities Market (MSM) reported.
Net profit margin improved to 36 per cent between January and March 2005, compared to 31 per cent in the year-ago period.
Works on the project for setting up a third production line at the company’s cement plant in Salalah, southern Oman, are going six weeks ahead of schedule and trial operations are expected to be launched in November 2005. The new production line is projected to significantly boost Raysut Cement Co sales and increase its earnings per share.
Raysut Cement Co achieved a net profit of OMR 7.017m (US$18.2m) for 2004, compared to OMR4.921m (US$12.8m) in 2003.
The company’s new production line is expected to boost its total annual output to over 2.2Mt.