Muscat: Raysut Cement Company (RCC), the Sultanate's biggest cement producer, yesterday announced a 64.1 per cent growth in net profit at OMR24.53 million for 2012, against OMR14.95 million posted for the previous year.
The company said its revenue also moved up to OMR92.8 million from OMR83.81 million, while cost of sales was edged up to OMR62.88 million from OMR61.86 million.
"Net profit of OMR7.7 million for the fourth quarter (65 per cent growth on year on year), was higher than our estimate of OMR5.9 million, as RCC booked an investment gain of OMR1.36 million. Excluding this investment gain, recurring net profit was only eight per cent above our estimate," EFG Hermes said in a research note.
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