Mubasher: Raysut Cement Company on Sunday reported a 12.3% decline in its profits for the fourth quarter of 2016, compared to the year-ago period.

Profits stood at OMR 4.51 million ($11.7 million), down from OMR 5.14 million ($13.3 million) in Q4-15, according to a filing to the Muscat Securities Market (MSM).

Profit after tax for the full-year 2016 increased marginally by 1.02% to OMR 21.17 million compared to OMR 20.95 million in 2015.

The cement company’s revenues reached OMR 92.59 million in 2016, up 2.2% from OMR 94.68 million recorded for the full-year 2015, the statement added.

The company previously posted a net profit of OMR 16.66 million in the first nine months of 2016, registering a year-on-year rise of 5% from OMR 15.81 million.

The stock was stable at OMR 1.45 at close on Thursday. It saw no trades on Sunday.