Mubasher: Gulf International Chemicals Company posted on Tuesday a decline of 59.79% in its profit in the fourth quarter of 2015.
Net profit of Q4-15 reached OMR 100,210 ($260,285), versus OMR 249,290 ($647,506) in the same period of 2014, according to a bourse filing.
However, the company’s annual profit rose to OMR 808,290 ($2.09 million) in 2015 from OMR 500,780 ($1.3 million) in 2014.
The company’s board of directors recommended cash dividends at 35 of the capital or 35 Baisas per share, and set 31 March for the general meeting to discuss the proposal, for the fiscal year 2015.
Earlier in March 2015, shareholders agreed to distribute cash dividends at 22% of the share’s par value, 22 Baisas per share, for the fiscal year 2014.
Revenues increased last year to OMR 3.97 million ($10.3 million) from OMR 3.89 million ($10.1 million) in 2014.
