Oman Cement Company's net profit boosted by higher demand

Oman Cement Company's net profit boosted by higher demand
30 April 2013

Oman Cement Company (OCC) achieved a 34.89 per cent advance in net profit as growth in government spending for infrastructure projects drives cement demand.

The Sultanate's second-largest cement producer said net income rose to OMR6.94m (US$18m) for the first quarter of 2013. Sales revenue also rose 12.07 per cent to OMR15.65m from OMR13.96m a year earlier.

Production soared by 17.24 per cent to 637,269t for the first three months of 2013, from 543,544t for the same period last year. Clinker production was also higher at 561,119t compared to 538,295t in 1Q12. First quarter sales were 628,553t against 558,495t in the same period of last year.

"With the company's well structured pricing policy, we hope that in spite of competition with other cement manufacturers, particularly from neighbouring countries, the company will continue to do well in retaining its market share," stated Dr Abdullah Abbas Ahmed, chairman of OCC.

Expansion project

OCC is increasing its cement grinding capacity by installing a new 150tph mill capacity in the near future. "The process of identifying a suitable vendor is in progress," Mr Ahmed commented.

The company is also upgrading Kiln Line 1 and has said that all efforts are being to speed up the implementation. It also plans to improve pollution control equipment at Kiln Line 2 to reduce dust emissions. It is currently in the process of selecting a suitable consultant for the project.

Published under Cement News