The Profits of The GCC s Quoted Cement Companies Increased by 27.11 %

The profits of the GCC s quoted cement companies increased by 27.1 l % during the first half of 2012 - another indicator that the region s construction market is improving. A new report by Kuwait s Global Investment House stated that the combined profits of the company s regional cement stocks increased to $971.5m in the six months to June 30 (2011: $764.1m). Net profit margins also increased to 38.1% of turnover, compared with 35.2% last year. This is despite the fact that prices remained relatively flat at $65.80 per ton (2011: $65.90), with the marginal drop attributed to falling prices in Kuwait and Oman. Global s report said that the market for cement in Oman had begun to improve after an earlier influx of cheap cement from the UAE depressed prices. Source: uaecement