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FINANCIAL NEWS
Oman Cement posts 23.9% jump in Q1 net profit
27 Apr 2012
(MENAFN) Oman Cement Company (OCC) announced that first-quarter net profit jumped 23.9 percent to USD13.31 million, from USD10.74 million in 2011’s same period, reported Times of Oman.
The country’s second largest cement producer added that revenue went up to USD36.17 million, compared with USD33.30 million a year earlier.
It also said that sales climbed 13.78 percent to 558,495 tons, against 490,865 tons recorded in last year’s same quarter.
It is worth noting that Oman Cement’s cost of sales rose from USD21 million to USD21.65 million in 2012’s first quarter.
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