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Oman Cement Q4 Net Profit Drops 35.8%, Trailing Forecasts

Oman Cement Q4 Net Profit Drops 35.8%, Trailing Forecasts

The firm made a net profit of OMR1.7 million ($4.4 million) in the last quarter of 2014.

Oman Cement, one of the sultanate’s largest cement firms, reported a 35.8 per cent drop in fourth-quarter net profit on Thursday, according to Reuters calculations, trailing analyst forecasts.

The firm made a net profit of OMR1.7 million ($4.4 million) in the three months to the end of December, compared to OMR2.65 million in the same period a year earlier, according to Reuters calculation based on financial statements.

Three analysts polled by Reuters had forecast on average a net profit of 2.56 million.

The company’s 2014 net profit fell 12.8 per cent to OMR13.1 million, according to a bourse statement.

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