Cement News tagged under: Oman Cement Company

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Oman Cement Co reports 52% fall in profit

17 July 2019, Published under Cement News

Oman Cement Co has reported a 52 per cent YoY fall in profit after tax for its 1H19 unaudited results, decreasing to OMR2.3m (US$6m) from OMR4.8m of the year-ago period. The first six months of 2019 saw total revenue at the company remain flat at OMR26.3m.

Oman Cement's Board gives go ahead for Duqum plant

07 December 2018, Published under Cement News

Oman Cement company has informed Muscat Securities Market on 6 December that its Board of Directors has agreed to go ahead with setting up of a new integrated cement plant in Duqum area,  in central-eastern Oman. According to company notification, the plant will have a clinker capacity of 5000tpd and envisages an investment of about US$212m. The project implementation process is being finalised by company and shareholders will be kept informed of the progress of the project in due course....

Duqm to receive new cement plant in 2020

09 October 2017, Published under Cement News

The SEZ Authority in Duqm (Sezad) and Al Wusta Cement Company, a partnership of Oman Cement Company and Raysut Cement Company, have signed a land use deal to build Oman’s third cement plant at the Duqm Special Economic Zone (SEZ), reports Trade Arabia. Under the terms of the agreement, the Al Wusta Cement Company will acquire a 500,000m 2 plot within the heavy industrial zone on lease for 50 years, renewable for a further period, reported Oman Observer. Al Wusta Cement said that the co...

Oman Cement and Sultan Qaboos University sign research pact

26 July 2017, Published under Cement News

Oman Cement Company and Sultan Qaboos University signed a Research Cooperation Programme agreement on 19 July to pursure a mutual interest in the fields of research and training. The agreement was signed by Dr Rahma Ibrahim Al-Mahrooqi, Deputy Vice Chancellor for Postgraduate Studies & Research, Sultan Qaboos University, and Salem Abdullah Al-Hajry, Acting CEO, Oman Cement Co. Under the programme, both parties agreed to explore opportunities to potentially collaborate in the areas of ...

Oman Cement profit surges 39%

11 October 2016, Published under Cement News

Oman Cement Co announced that it has achieved a 38.78 per cent growth in net profit, reaching OMR9.68m (US$25.14m) for 9M16, compared to OMR6.98m for the same period a year earlier. Revenue also grew by 12.45 per cent to OMR43.75m for the period, up from OMR38.9m the previous year. Total expenses increased 5.93 per cent from OMR31.02m to OMR32.86m and sales income grew 12.18 per cent to OMR42.3m in the period under review when compared to OMR37.71 per cent in the year prior. The financ...

Oman Cement output rises by 20% in year to June

01 August 2016, Published under Cement News

Having already announced a 25 per cent rise in profits in its six-month results to the end of June 2016, Oman Cement has now released details of increased production and sales, Muscat Daily reports. During 1H2016, cement output at the firm rose by 19.86 per cent to 1.21Mt, including 89,851t from its new mill at Ghala-Rusayl in northeastern Oman, which came online at the end of May. A statement release by Oman Cement read: “The company has continued its efforts to overcome the adverse...

Oman Cement’s 1H16 profits up 25%

13 July 2016, Published under Cement News

Oman Cement has announced its profits are up by a quarter YoY for the 1H2016. In the first six months of the year, the company made a profit of OMR6.8m (US$17.7m), Muscat Daily reports. Total revenue was up by 15 per cent, at OMR31.5m (US$81.7m). The performance marks a recovery for Oman Cement after a poor trading year in 2015, but profits are still below their levels in the first six months of 2014.

Oman Cement Co 1Q16 profits up

04 May 2016, Published under Cement News

Oman Cement Company has reported a profit after tax of OMR3.84m (US$9.97m) during 1Q16 as compared to OMR3.83m in corresponding period last year - showing a minor growth of 0.28 per cent. The company recorded a total sale of OMR15.8m in the three months ended 31 March 2016 as compared to OMR14.68m in the corresponding period of previous year. Meanwhile, the company says its new cement mill currently under construction at its Ghala-Rusayl complex, in northeastern Oman, is expected to be oper...

Oman: OCC net profit impacted by gas price hike

29 October 2015, Published under Cement News

Oman Cement Co (OCC) reported a 38.7 per cent fall in net profit for the nine-month period ended 30 September 2015, mainly due to the increase in gas prices from the beginning of this year. During the period net profit dropped to OMR6.99mnfrom RO11.41mn a year earlier. The decrease in profit is mainly due to higher energy costs incurred by the company as a result of the doubling of gas prices. “The decline in market value of the company's investments also had an adverse impact on performa...

OCC first-half net profit down

13 July 2015, Published under Cement News

Oman Cement Co (OCC) net profit declined by just over 40 per cent in the first half of this year to OMR5.44m (US$14.1m) from OMR9.09m in 1H14, the company said in its filing of initial numbers with the Muscat Securities Market. Revenue declined marginally to OMR25.53m in the first half of this year compared with OMR25.68mn in the corresponding period of 2014. Investment and other income fell sharply by 54.1 per cent to OMR1.8m from OMR3.94m. As a result, Oman Cement 's total revenue fell 7...