Oman: Raysut Cement 1Q16 profits up 34%

Oman’s Raysut Cement reported a 34 per cent increase in 1Q16 net profit on Wednesday, according to a bourse statement.

The largest cement firm by market value in the sultanate made OMR8.08m (US$20.9m) in the three months ending 31 March, compared with OMR6.03m in the same period of 2015.

Analysts at EFG Hermes and Gulf Baader Capital Markets forecast Raysut would make a quarterly net profit of OMR5.70m and OMR5.83m, respectively.