BY: Islam Fadl

Mubasher: The financial statements of the cement companies listed on the Muscat Securities Market showed a year-on-year rise of 3.3% in their profits for the third quarter of the fiscal year 2016.

Total profits of the two listed firms, Raysut Cement and Oman Cement, for Q3-16 reached OMR 6.64 million ($17.2 million), compared to OMR 6.43 million for Q3-15.

In the first nine months of 2016, the sector’s total profits amounted to OMR 26.34 million, 15.6% up from OMR 22.8 million for the same period of 2015.

Raysut Cement recorded the highest gains in the two period with a net profit of OMR 3.76 million for the quarter ended on 30 September and OMR 16.66 million for the first nine months of the year.

Oman Cement’s profits for Q3-16 reached OMR 2.88 million, while the nine-month profit amounted to OMR 9.7 million.

Translated by: Elwy el-Manzalawy