Oman’s leading cement producer Raysut Cement, reported a 62 per cent rise in pretax profit for the first nine months of 2012 due to higher sales and better price realisations.
The company said profit before tax for the nine months to September reached OMR19.11m (US$49.7m) from OMR11.83m for the same period last year. Revenue stood at OMR70.35m, a YoY increase of 12 per cent against OMR62.67m last year.
Pioneer Cement, part of the Raysut Group, earned a profit of OMR3.77 against OMR1.49m.
The group as a whole has produced 2,630,571t of clinker and 2,825,976t of cement during the period ended on September 30, 2012 against 2,533,512t of clinker and 2,332,141tof cement in the same period of previous year. The production clinker and cement went up by four per cent and 21 per cent, respectively.
The group as a whole has sold 62,090t of clinker and 2,839,518t of cement during the period ended September, 2012 against 437,968t and 2,404,750t respectively in the same period of previous year.