Cement News tagged under: Raysut Cement

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Raysut posts 8.9% increase in 9M13

14 October 2014, Published under Cement News

Oman-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.

Oman: Raysut Cement first-half net profit ahead

12 August 2014, Published under Cement News

Oman’s Raysut Cement reported a 5.9 per cent rise in net profit in the six months to the end of June 2014 while cement volumes held firm despite heightened competition. The company reported a net profit of OMR15.58m in the first-half of 2014, an increase of 5.9 per cent from the corresponding period last year. Group revenue inched down to OMR49.49m from OMR49.52m. Company chairman Sheikh Ahmed al Ibrahim said the group was able to maintain cement sales volumes at 2013 levels in spite o...

Raysut appoints new chief executive, Oman

05 June 2014, Published under Cement News

Oman’s Raysut Cement has appointed Salem Alawi Mohammed Baabood as chief executive, the company said in a bourse statement on Wednesday.

Raysut posts flat quarterly profit, Oman

12 May 2014, Published under Cement News

Raysut Cement, Oman's largest cement producer by market value, reported a flat first-quarter profit on Monday. The company made a profit of OMR8.23m (US$21.4m) in the three months to 31 March, up from OMR8.17m in the year-earlier period, according to a statement to Muscat's bourse.

Oman: Raysut Cement's profit rises on higher demand

13 February 2014, Published under Cement News

Oman’s largest cement producer, Raysut Cement, achieved a 12.6 per cent growth in net profit in 2013 to OMR27.62m (US$71.73m), on the back of higher domestic demand. Revenue rose by 0.5 per cent to OMR93.29m from OMR92.8m a year earlier, the company said in a disclosure to the Muscat Securities Market. Cost of sales fell to OMR61.72m in 2013 from OMR62.88m during the year before. The preliminary results are unaudited and subject to the approval of the statutory auditors, audit committe...

Raysut Cement selects Siwertell system for Omani port operations

21 January 2014, Published under Cement News

Oman's leading cement producer, Raysut Cement Co, has ordered a high capacity road-mobile Siwertell unloading and conveying system from Cargotec for cement-handling operations at the ports of Duqm and Sohar, Oman. The contract, which supports the company's expansion plans in Oman, comprises the delivery of a road-mobile Siwertell 10 000 S unloader unit and a road-mobile Siwertell PumpMaster blow pump conveying unit, commissioning, supervision, and spare parts. The combination of screw type...

Oman seeks anti-dumping measures

30 December 2013, Published under Cement News

UAE cement producers have defended their export levels to Oman after Raysut Cement Company calls for anti-dumping measures to be put in place to restrict imports from the neighbouring country.  Raysut Cement is now urging the Omani government to put a "ceiling" on the amount of imports from UAE producers, stating that they " are offloading a large amount of cement in Oman, which has pushed prices down to a low level, especially in northern Oman," according to Samidh Mukhopadhya, CFO of O...

Raysut sales ease in first nine months, Oman

12 November 2013, Published under Cement News

Raysut Cement, the leading cement producer in Oman, reported a rise in pretax profit for the first nine months of 2013, but sales eased due in part to competition from neighbouring UAE. During the Jan-September 2013 period the company reported a 12.6 per cent YoY rise in net profit before tax of OMR21.52m (US$55.9m). Revenue was down slightly to OMR70.18m compared to OMR70.35m in the same period of the year. The company said that competition from the UAE is likely to continue, putting pres...

Raysut to begin construction of new terminal by year-end, Oman

10 October 2013, Published under Cement News

Construction of Raysut Cement's terminal at the Duqm Port, Oman, will begin by the end of this year, local press have reported. The new cement terminal will bolster the import of bulk cement in the country. Construction of the facility is expected to take one year. The Port of Duqm authorities are negotiating with several companies for the export of minerals such as limestone.

Raysut Cement’s 2012 net profit rises 64.1%, Oman

18 February 2013, Published under Cement News

Raysut Cement, Oman’s largest cement producer, reported a 64.1 per cent YoY growth in net profit for 2012 and revenues also increase fuelled by increasing demand. Net profit for the 12 months to the end of December 2012 reached OMR24.5m (US$63.6m) against OMR14.95m reported in 2011 as RCC booked an investment gain of OMR1.36m. Revenues also rose 10.7 per cent to OMR92.8m from OMR83.81m in the same period of last year. Oman’s cement sector, which was earlier facing problems because of t...