Oman: competition reduces Raysut Cement’s profits

Oman: competition reduces Raysut Cement’s profits
Published: 14 February 2012

Tagged Under: Raysut Cement Oman 

Oman's Raysut Cement is losing market share at home as rival UAE players offer competitive cement pricing. The country's largest cement maker reported a 28% fall in annual profit.

Net income declined to OMR14.9m (US$38.6m), in line with analyst estimates, from OMR20.7m (US$53.7m) a year earlier, the company said in a filing to the Muscat Securities Market yesterday. Sales costs increased to OMR61.9m from OMR41.7m a year earlier, the company said.

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