Cement News tagged under: Oman
Oman Cement posts 4Q12 record performance30 January 2013, Published under Cement NewsOman Cement posted the best quarterly performance in the 4Q12 with sales revenue reaching OMR15.308m (US$39.7m) showing an increase of 31.4 per cent YoY and 11.8 per cent on QoQ. The overall profit after tax for the year ended 2012 stood at OMR17.511m which increased significantly by 37 per cent on year thanks to higher sales and improvement in margins. For the final quarter of 2012, the earnings of the company witnessed a significant jump of 50 per cent YoY and 21.1 per cent on QoQ to OMR... |
Oman Cement net profit rises 37% in 201223 January 2013, Published under Cement NewsOman Cement Company announced a 37 per cent rise in net profit in 2012 following a rise in revenue. Net profit for the 12 months to December 2012 climbed to OMR17.5m (US$45.5m) from OMR12.8m from the year before. Revenue rose to OMR59.3m in 2012 from OMR50.7m the year before. Total expenses stood at OMR39.6m, up from OMR36.2m. Oman’s cement sector, which had previously been experiencing problems due to a dampening of demand in the UAE cement sector, registered positive growth in 2012 t... |
Raysut CEO withdraws resignation, Oman20 December 2012, Published under Cement NewsMohammed Ahmed Al Dheeb has agreed to withdraw his resignation and continue working for Raysut Cement Company as the Group CEO. The board of directors had unanimously agreed to ask Mr Ahmed Al Dheeb to remain at the helm of the Oman-based cement producer. |
Oman: Duqm quarry sites identified13 November 2012, Published under Cement NewsPlans to build a multi-million rial cement plant in Oman's northern city of Al Duqm is progressing, with the promoters started identifying potential limestone quarry sites. The raw material is abundant around Duqm port and an extensive geological mapping has identified two main areas with nearly timeless quantities of high quality limestone. The Al Safiya area is located 15km west of the port and is primarily intended for the cement industry. In the Al Hydaybah area, 15-to-20km south of th... |
Raysut sees 62 per cent jump in pretax profit, Oman12 November 2012, Published under Cement NewsOman’s leading cement producer Raysut Cement, reported a 62 per cent rise in pretax profit for the first nine months of 2012 due to higher sales and better price realisations. The company said profit before tax for the nine months to September reached OMR19.11m (US$49.7m) from OMR11.83m for the same period last year. Revenue stood at OMR70.35m, a YoY increase of 12 per cent against OMR62.67m last year. Pioneer Cement, part of the Raysut Group, earned a profit of OMR3.77 against OMR1.49m... |
Oman Cement 9M12 net profit surges on local demand25 October 2012, Published under Cement NewsOman Cement Company’s profit after tax increased 32.5 per cent to OMR12.859m (US$33.4m) in the first nine months of the year against net earnings of OMR9.703m during the same period last year. Cement sales rose 20.8 per cent to 1.689Mt from 1.98Mt last year. Turnover increased 15.16 per cent to OMR41.762m against OMR36.265m last year. Clinker production also sharply increased to 1.505Mt this year, from 1.037Mt last year. In addition, the company had to import 54,652t of clinker to bri... |
GCC profits rise 27.1 per cent in 1H1206 September 2012, Published under Cement NewsProfits of the Gulf Cooperation Council (GCC) cement sector increased 27.1 per cent YoY in the first half of 2012 to US$971.5m from US$764m in the same period of 2011, the latest report from Global Investment House (GIH) shows. According to the report, the GCC cement sector grew 17 per cent in the first six months of the year mainly due to a huge pipeline of projects in Saudi Arabia helping to generate significant demand. Oman was in second place with growth of 13.8 per cent while Qatar a... |
Improved outlook for Omani cement companies29 August 2012, Published under Cement NewsOman cement companies are set for brighter times ahead as inflows of cheap cement from the UAE decline and demand picks up both in the UAE and the sultanate, according to a report by Global Investment House (GIH). In its GCC cement sector report released on Tuesday, GIH said that Omani cement firms are set for steady growth in the coming quarters as growth in the construction sector leads to a higher cement demand. “The inflow of cheap cement from UAE, which earlier roughly catered to... |
Oman: Port of Duqm to build cement terminal22 August 2012, Published under Cement NewsOman is set to increase imports of cement and bitumen with the establishment of new terminals at the Port of Duqm. Both facilities are indispensable to supporting the speedy and cost-effective development of the region’s ambitious Special Economic Zone (SEZ), according to a senior official of the port authority. “We are finalising negotiations with a well-known Omani cement manufacturer for the development of a cement import terminal on the quayside at Duqm Port,” said Reggy Vermeulen, com... |
Middle East market developments13 August 2012, Published under Cement NewsCement producers in the Gulf Cooperation Council (GCC) nations witnessed a 24.3 per cent increase in revenues in the first quarter of 2012, reaching US$1.26bn (AED4.62bn) as construction picked up in certain parts of the Middle East. Saudi Arabia continues to be the region's strongest market, but improvements are being seen in the UAE and Qatar is gathering pace. However, a challenging operating environment persists in Egypt. According to a report by Global Investment House (GIH), combine... |