Oman Cement profit surges 39% to OMR10 million

Muscat: Oman Cement Company on Monday said that the company has achieved a 38.78 per cent growth in net profit at OMR9.68 million for the first nine months of 2016, against OMR6.98 million posted for the same period of last year.
The company’s revenue also grew by 12.45 per cent to OMR43.75 million for January-September period of 2016, from OMR38.90 million for the same period of last year, according to a disclosure statement posted on MSM website.
Total expenses also showed a growth of 5.93 per cent to OMR32.86 million from OMR31.02 million during the period under review. In fact, sales income also grew by 12.18 per cent to OMR42.30 million from OMR37.71 million during the period. Also, investment and other income moved surged ahead by 20.91 per cent to OMR1.45 million by end-September 2016 from OMR1.20 million for the same period of 2015.
The financial results are initial, unaudited and are yet to be approved by audit committee and board of directors of the company.