Raysut Cement Company, a leading cement producer in Oman and the Middle East, on Wednesday announced the appointment of Khalid Ramis Mohammed al Rawas as the new chief executive officer of the company.
Raysut Cement expands marketing reach Published: 9:46 PM, May 15, 2021
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MUSCAT, MAY 15 - New marketing arms set up by Raysut Cement Company (RCC), the Sultanate’s biggest cement-manufacturer, have expanded the geographical reach of the group beyond the Middle East into parts of East Africa and the Indian Ocean, the publicly traded company announced last week.
RCC Trading DMCC has added Zanzibar, Comoros and Madagascar to its footprint in East Africa, while Raysut Maldives Cement Pvt Ltd has added the new market of Maldives to the group’s geographical coverage. These new markets supplement the existing markets of Oman, Yemen and East Africa covered by the parent company; northern Oman and by Sohar Cement Factory; and the UAE and Oman by Pioneer Cement.
Raysut Cement reports 8% rise in total revenue 02 March 2021
Oman s Raysut Cement Group has reported an OMR14.06m (US$36.57m) net loss for the full-year 2020 period, against an OMR2.26m profit in the previous year.
The results were attributed to a decline in sales volume in the local market as a result of projects and lower sales realisation per tonne of cement and clinker sold in export markets due to stiff competition from the UAE, Saudi Arabia and Iran.
However, the company’s total revenue increased 7.5 per cent YoY to OMR90.38m from OMR84.05m. The prevailing COVID-19 pandemic has created an unprecedented situation throughout the globe. All mankind, businesses both at domestic and international levels, are passing through a critical phase, our company is no exception to it, hence has suffered significantly. Raysut Cement’s revenues were maintained for the year, however profitability took a severe hit, said the company.