Raysut Cement net profit drops

Business Saturday 13/February/2016 18:30 PM
By: Times News Service
Raysut Cement net profit drops

Muscat: Raysut Cement Company, the Sultanate’s biggest cement producer, said its net profit fell by 23.62 per cent to OMR20.95 million for 2015, against OMR27.43 million for the previous year.
The company’s total sales revenue stood slightly higher at OMR94.68 million for 2015, against OMR94.29 million for the previous year, the company said in a disclosure statement posted on Thursday.
Cost of sales was higher at OMR59.18 million compared to OMR54.87 million. There was a marked decline in investment income last year. The company’s basic and diluted earnings per share stood lower at 105 baisas by end-2015, against 137 baisas for the same period of 2014.
The results are un-audited and are subject to the audit and approval from the audit committee and board of directors.