Raysut Cement missed analysts' expectations despite reporting a 17.8 per cent increase in quarterly net profit after tax on Tuesday, according to Reuters calculations.

One of the sultanate's largest producers of cement made RO5.3 million  ($13.8 million) in the three months to September 30, compared with RO4.5 million ($11.65 million) in the corresponding period of last year, Reuters calculated based on financial statements.

Three analysts polled by Reuters had expected the firm on average to make a net profit of RO5.81 million ($15.04 million).

Raysut Cement said in a bourse filing that it made a net profit after tax of RO20.9 million ($54.12 million) in the first nine months of 2014, up from RO19.2 million ($49.72 million) in the year-ago period.

Meanwhile, Oman Cement, another major cement producers in the country, reported a third-quarter net profit that dropped 39.5 per cent from the same period last year, according to Reuters calculations.

The company made a net profit after tax of RO2.3 million ($6 million) in the three months to September 30, compared with RO3.8 million ($9.84 million) in the corresponding period of 2013, Reuters calculated based on financial statements.

Oman Cement made a net profit of RO11.4 million ($29.52 million) in the first nine months of 2014, down from RO12.4 million ($32.11 million) in the same period last year, it said in a bourse statement on Tuesday.  - Reuters