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Oman’s Raysut Cement Posts 17.8% Q3 Net Profit Increase

Oman’s Raysut Cement Posts 17.8% Q3 Net Profit Increase

The company made OMR5.3 million ($13.8 million) in the three months to Sept. 30, compared with OMR4.5 million in the corresponding period of last year.

Raysut Cement missed analysts’ expectations despite reporting a 17.8 per cent increase in quarterly net profit after tax on Tuesday, according to Reuters calculations.

One of the sultanate’s largest producers of cement made OMR5.3 million ($13.8 million) in the three months to Sept. 30, compared with OMR4.5 million in the corresponding period of last year, Reuters calculated based on financial statements.

Three analysts polled by Reuters had expected the firm on average to make a net profit of OMR5.81 million.

Raysut Cement said in a bourse filing that it made a net profit after tax of OMR20.9 million in the first nine months of 2014, up from OMR19.2 million in the year-ago period.

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