Mubasher: Raysut Cement posted a 68.3% year-on-year decline in the second quarter of 2017.

The Muscat-listed company achieved profits of OMR 1.53 million ($3.97 million) in Q2-17, compared to OMR 4.83 million ($12.5 million) in the corresponding period of 2016, according to a bourse filing.

As for the first half of 2017, the company’s profits declined 64.19% to reach OMR 4.62 million, versus OMR 12.91 million in H1-16.

Meanwhile, revenues for the first six months the year fell 25.08% to reach OMR 37.41 million from OMR 49.93 million in the same period of 2016, the statement showed.

The company previously reported that its profits plummeted 61.77% reaching OMR 3.09 million in Q1-17, compared to OMR 8.08 million on Q1-16.

Raysut Cement’s stock inched down 0.8% to OMR 0.988 at the closing of Sunday’s trading session.