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News Raysut Cement blames falling profits on overcapacity in UAE

Raysut Cement blames falling profits on overcapacity in UAE

Written by Global Cement staff 06 March 2019
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Oman: Raysut Cement’s sales revenue rose by 27% year-on-year to US$236m in 2018 from US$187m in 2017. However, its operating profit fell by 85% to US$7.02m from US$17.5m. It blamed this on lower prices due to imports from the UAE, higher packaging costs, higher shipping costs and other general costs. Its cement sales volumes increased by 13% to 3.33Mt from 2.94Mt. The cement producer noted that excess production capacity in the UAE reduced prices in that country as well as in northern Oman.

Last modified on 06 March 2019
Published in Global Cement News
Tagged under
  • Oman
  • Raysut Cement
  • Results
  • UAE
  • Yemen
  • GCW394

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