Cement News tagged under: Oman
OCC first-half net profit down13 July 2015, Published under Cement NewsOman 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... |
Oman: OCC prolonged kiln shut down to impact 2Q performance29 June 2015, Published under Cement NewsOman Cement Co (OCC) said that the extended kiln closure of a 4000tpd line as part of planned maintenance will have an impact on it second-quarter performance. CEO, Jamal al Hooti, told Muscat Securities Market that the closure is resulting in lower production and sales which is likely to impact the performance of the company during the current quarter. |
Oman Cement awards FLSmidth contract for pollution control equipment13 May 2015, Published under Cement NewsOman Cement Co has awarded a US$11.3mn contract for the upgrade of pollution control equipment to FLSmidth, according to local press reports. In a filing with the Muscat Securities Market (MSM) on Sunday, Oman Cement said it has been putting its best efforts towards environmental improvements, adding: “In this direction to reduce emission levels, the company has awarded the work for upgradation of pollution control equipment for line-2 to FLSmidth. The company has issued a letter of intent ... |
Raysut sees sharp fall in operating profit06 May 2015, Published under Cement NewsOman-based Raysut Cement Co said operating profit fell sharply by 26.7 per cent in the first quarter of 2015 due to a doubling of the price of natural gas supplied by the government and rising transportation costs. Group operating profit fell to OMR6.02m from OMR8.23m in the same period of 2014. "This is mainly due to the increase in natural gas price by the government to US$3 per MMBtu from US$1.5 per MMBtu effective 1 January 2015 and increase in other costs," Raysut Cement said in its d... |
Oman Cement 1Q net profit up 3.7%16 April 2015, Published under Cement NewsOman Cement reported a 3.7 per cent rise in first-quarter net profit on Wednesday, beating analyst forecasts. The company made a net profit of OMR3.83m (US$9.95m) in three months to 31 March, up from OMR3.70m in the corresponding period of 2014. Three analysts polled by Reuters on average forecast the firm would make a net profit of OMR3.2m. Oman Cement’s first-quarter revenue rose 10.6 per cent to OMR15.94m. OCC's cement capacity will be increased from 2.6Mta to 3.8Mta, with the addition... |
Raysut full-year profit dips, Oman09 February 2015, Published under Cement NewsRaysut Cement reported full-year net profit of OMR27.42m (US$71.22m), 0.4 per cent lower than the OMR27.52m posted in the previous year. Revenue rose 1.1 per cent to OMR94,29m from OMR93.29m, according to a company filing with the Muscat Securities Market on Thursday. A research note by Gulf Baader Capital Markets (GBCM) said the company’s revenue was in line with estimates but earnings was below its forecast of OMR28.8m. According to GBCM, group sales volumes came in at 3.8Mt but ... |
Omani producers face hike in natural gas prices01 December 2014, Published under Cement NewsOman’s two leading cement producers are looking to mitigate the effects of an impending rise in natural gas prices which are expected to lead to an increase in the cost of cement production. The country’s Ministry of Oil and Gas (MOG) is to increase the price of natural gas as of 1 January 2015. The price will thereafter increase every year for both companies at rates specified by the ministry. Last week, an advisory body to Oman’s government suggested spending cuts and tax rises to cope w... |
Raysut Cement nine-month net profit up 8% YoY12 November 2014, Published under Cement NewsRaysut Cement, Oman's biggest cement producer, reported an eight per cent increase in net profit to US$60.21m compared with US$55.71m in the same period of last year. Revenue was US$183m for the period, just ahead of the US$182m recorded in the first nine months of 2013. "While there are positive signs of growth in Oman market, the same is not being translated into cement demand due to sever competitions from the UAE suppliers. The competitions are also experienced in the Yemen and ea... |
UltraTech acquires 51% interest in Omani mining firm10 November 2014, Published under Cement NewsUltraTech Cement Middle East Investments, a subsidiary of UltraTech Cement, has acquired a 51 per cent interest in Omani mining company Awam Minerals LLC. Awam Minerals possess a licence for mining substantial gypsum deposits in the south of Oman, which will serve as a captive mine for UltraTech Cement's network of plants. UltraTech Cement. India’s largest cement producer, also operates two grinding units and a clinker plant in the UAE, and a grinding unit in Bahrain, through its Middle Ea... |
Raysut posts 8.9% increase in 9M1314 October 2014, Published under Cement NewsOman-based Raysut Cement said in a bourse filing that it made a net profit after tax of OMR20.9m (US$54.3m) in the first nine months of 2014, up 8.9 per cent from OMR19.2m in the year-ago period. The company posted a 17.8 per cent increase in net profit for the third quarter of 2014 to OMR5.3m (US$13.8m), according to Reuters calculations. Raysut narrowly missed expectations as three analysts polled by Reuters had expected the firm on average to make a net profit of OMR5.81m. |