Cement News tagged under: Oman

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Oman Cement annual profit up 10% as production rises

22 February 2017, Published under Cement News

Oman Cement has announced that its profits rose by 10 per cent in 2016, to OMR12.87m (US$33.4m). In an earnings statement to the Muscat Securities Market, Oman Cement said that sales revenues rose by 8.5 per cent, but better control of costs produced a greater rise in profitability. The company sold 2.3Mt of cement in 2016, a 10.7 per cent increase on the previous year, which given the slower pace of revenue growth implies lower prices. Profits were also affected by the longer than ...

Oman: Raysut Cement net profits rise in 2016

16 January 2017, Published under Cement News

Raysut Cement has reported a 1.02 per cent growth in net profits of OMR21.17m (US$54.98m) for 2016, against OMR20.95m reached in 2015. Total revenue of the company fell by 2.2 per cent to OMR92.59m in 2016, from OMR94.68m in 2015, according to preliminary results posted by the company on the MSM website. The cost of sales of the company edged up by 3.3 per cent to OMR61.13m in 2016, from OMR59.18m in 2015.

Oman: Raysut Cement CEO quits

15 December 2016, Published under Cement News

Raysut Cement Company announced yesterday that its CEO, Salem bin Alawi Mohammed Baabood, has resigned. The Board of Directors accepted Mr Baabood’s resignation at a meeting on Tuesday. Mohammed Ahmed Aideed is to assume the functions and duties of group CEO until a new CEO is appointed.

Raysut: Barwaaqo Cement makes steady progress

08 November 2016, Published under Cement News

Raysut Cement’s cement plant project in Berbera, Somaliland, is progressing well, according to company sources. Barwaaqo Cement Co has completed soil investigation studies and is moving to select contractors. “The Engineering-Procurement-Construction (EPC) contractor shall be selected shortly. The project is expected to be complete within 12 months from the date of selecting the EPC contractor,” Ahmed bin Yousuf bin Alawi al Ibrahim, chairman of the company’s Board of Directors. The Be...

Oman: Raysut Cement 3Q profit falls 23%

14 October 2016, Published under Cement News

Raysut Cement Company reported a 22.5 per cent fall in its 3Q16 profits, according to a bourse statement. Profits reached OMR3.76m (US$9.7m), compared to OMR4.85m in 3Q15. In the first nine months of 2016, net profits increased five per cent to OMR16.66m from OMR15.81m in the equivalent period of 2015.

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: Raysut Cement raises capacity

22 September 2016, Published under Cement News

Raysut Cement announced that the new gas supply station has been commissioned at its Salalah plant and commercial operation has already begun. The new gas supply station will enable Raysut to increase its cement production capacity from 130,000tpa to 140,000tpa. The company said that its project with Barwaaquo Cement Company in Somaliland is also making good progress. The construction of the Duqm terminal has been completed and all necessary formalities are currently being processed. Comm...

Fujairah Cement approves Sohar Cement venture

22 August 2016, Published under Cement News

The Board of Directors of Fujairah Cement Industries has given the go-ahead to establish Sohar Cement Co in Oman. The new company investment cost amounts to OMR1.42m (US$3.69m), representing 20 per cent of the paid-up capital.

Oman: Raysut Cement upgrades

16 August 2016, Published under Cement News

Raysut Cement is in the process of completing several expansions and improvements across its domestic and international assets. One project currently underway is the upgrade of its gas supply station at its Salalah plant in Oman. The upgrade will enable the plant to receive an additional 40,000m 3 of gas as fuel per day. According to Chairman of the Board of Directors, Ahmed Yousuf bin Alawi, upon completion of the project, the plant’s production capacity will increase to approximately 1...

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...