Oman's Raysut Cement reported a 21.5 per cent drop in fourth-quarter net profit on Thursday, according to Reuters calculations.

The largest cement firm by market value in the sultanate made RO5.14 million ($13.4 million) in the three months ending December 31, compared with RO6.55 million ($17.02 million) in the same period of 2014.

Gulf Baader Capital Markets forecast Raysut would make a quarterly net profit of RO5.78 million ($15.01 million).

Raysut Cement didn't disclose a quarterly breakdown of its earnings so Reuters calculated the figure based on the bank's previous financial statements.

Net profit for 2015 was RO21 million ($54.55 million), down 23.6 per cent on the 27.4 million ($72.7 million) it earned in the previous year, a bourse filing said. - Reuters