Oman: Oman Cement Co has reported a 35% rise in its net profit for the first quarter of 2013 on the back of improved sales volumes. Its net profit rose to US$17.9m from US$13.3m in the same period of 2012.
The company reported sales of 628,553t of cement during the first quarter of 2013, 12.5% higher compared to the 558,495t sold in the same period of 2012. In value terms, sales for the three-month period rose by 12% to US$40.7m from US$35.6m in the same period of 2012.
Company chairman Dr Abdullah Abbas Ahmed said, "We have continued to successfully improve our sales and profit with a balanced approach of marketing efforts, a competitive price structure and discount scheme backed by the quality of our products and adopting effective expenditure control measures."
"As demonstrated by increased sales volume during the first quarter, the company is confident of the demand for cement in the country. With the company's well-structured pricing policy, we hope that in spite of stiff competition with other cement manufacturers, particularly from neighbouring countries, the company will continue to do well in retaining its market share," added Ahmed.
Oman Cement Co is in the process of increasing its cement-grinding capacity by installing a new 150t/hr cement mill. The company is also planning to improve its pollution control equipment on one of its kilns to decrease dust-emission levels. The process of identifying a suitable consultant for this task is in progress.
