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Oman’s Raysut Cement Posts Flat Q1 Profit, Misses Estimates

Oman’s Raysut Cement Posts Flat Q1 Profit, Misses Estimates

The company made a profit of OMR8.23 million ($21.4 million) in the three months to March 31.

Oman’s Raysut Cement, the sultanate’s largest cement firm by market value, reported a flat first-quarter profit on Monday, missing analysts’ estimates.

The company made a profit of OMR8.23 million ($21.4 million) in the three months to March 31, up from OMR8.17 million in the year-earlier period, according to a statement to Muscat’s bourse.

Analysts polled by Reuters on average forecast Raysut would make a quarterly profit of OMR8.41 million.

The company’s first-quarter revenue was OMR24.82 million, down from OMR25.22 million a year ago, the statement added.

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