Oman’s Raysut Cement Q2 profit slows on sales
Raysut Cement Co, Oman’s largest cement firm by market value, posted its slowest profit growth in almost two years in the second quarter missing an analyst’s expectation.
Net income in the three months to June 30 climbed 5.4 per cent to OMR5.25m ($13.64m), compared with OMR4.98m a year ago.
It is the slowest pace of growth since the third quarter of 2005.
First-half profit rose 24.8 per cent to OMR12.57m, or OMR0.63 per share, compared with OMR10.07m, or OMR0.50 per share, a year earlier, an official at Raysut said, declining to be identified. He had earlier said first-half profit last year was OMR10m.
Published under Cement News
