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Oman Cement Posts 4.3% H1 Net Profit Hike

Oman Cement Posts 4.3% H1 Net Profit Hike

Net profit rose despite a drop in sales despite a drop during the first half of the year.

Oman Cement reported a 4.3 per cent increase in net profit before tax for the first half of 2014, despite a drop in sales for the period.

The firm, one of the sultanate’s largest producers of cement, made a net profit before tax of OMR9.9 million ($25.7 million) for the six months to June 30 compared to OMR9.5 million in the year-ago period, according to a bourse filing.

The net profit figure for the first six months of 2013 has been restated, the statement said without elaborating.

Sales for the opening half of 2014 stood at OMR25.7 million, down from OMR27.3 million in the corresponding period of last year, the statement added.


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