Oman Cement Company (OCOI), which is listed on the Muscat Stock Exchange, has achieved a 32.02 per cent increase in net profit for the first half of 2023.
According to the recently released financial statements, Oman Cement reported semi-annual profits of RO 4.19 million for the first half of this year, surpassing earnings of RO 3.17 million for the same period in 2022.
The financial statements further reveal that Oman Cement experienced a 5.13 per cent revenue growth during the first half of 2023. Revenue totaled RO 36.76 million, up from RO 34.96 million for the corresponding period of 2022.
Annual profit in 2022 climbed 22.65 per cent to RO 5.45 million, up from RO 4.45 million in 2021.
Hong Kong based Huaxin International Holdings Limited has a controlling interest in Oman Cement through its wholly-owned subsidiary Abra Holdings Limited incorporated in the Republic of Mauritius. Abra currently holds a 64.65 per cent stake in the Omani cement manufacturer.
Oman Observer is now on the WhatsApp channel. Click here
