Raysut Cement Company, Oman's second largest producer of building materials, on Wednesday announced the increase of cement prices.
"We would like to inform you that it has been decided to increase the cement selling price by RO.4.000 per ton, the new selling price will be RO 1.500 per bag equivalent to RO 30.00 per ton of cement , effective first of June 2008," the company said in a press statement. The company added that the new price will have a positive effect on its profits.
Raysut Cement Company recorded total revenue of RO63.01mn for the year ended December 2007, witnessed an increase of 31% from RO47.97mn in the previous year. The net profit of the company increased by 46% to reach RO30.12mn in 2007 from RO20.65mn reported in the previous year. (US$2.6=RO1).