The Suhail Bahwan Group-company has also identified new export markets, which are expected to boost sales during the year.
Oman Ceramics posted a profit of RO13,205 in 2010 as against a loss of RO118,725 in 2009.
Speaking to Muscat Daily on the sidelines of its annual general meeting on Sunday at the InterContinental Muscat Hotel, Saleh al Riyami, vice chairman, said, “We have been able to explore a few new international markets.
We expect that by the end of the second quarter, we will see growth in business. The prices of raw materials are likely to go down again.
Business will not be affected much by the regional unrest. I hope things will start picking up by the end of the second quarter this year. We hope to be able to pay dividends next year.”
“Our company is on the recovery path after two difficult years. We saw a small recovery in 2010. In the past two years, local as well as export markets were hit by the global economic slowdown.
Oman is our major market and we are expecting good recovery in business by the end of the second quarter this year.”
Oman Ceramics is primarily engaged in the manufacture and sale of vitreous china sanitary ware. It exports to several countries in Europe, Asia and Africa.
The company manufactures washbasins, water closets, bidets and accessories with raw materials like china and ball clay imported from the UK, feldspar from India and quartz from Saudi Arabia
“We have direct exposure to Europe, as well as some African and other Arab markets.
The global economic slowdown, and particularly slowdown in the real estate, affected the company’s performance in the past two years,” he added.