Al Suwadi Power Company SAOG (the “Company”) is pleased to disclose the following initial unaudited financial results for the 9-month period ended 30 September 2015, and a comparison with the same period of the preceding financial year.
|
|
9-month 2015 RO Unaudited |
9-month 2014 RO Unaudited |
Percentage change |
|
Revenues |
55,588,805 |
43,999,860 |
26.3% |
|
Direct Costs |
(33,462,265) |
(21,873,986) |
|
|
Gross Profit |
22,126,540 |
22,125,874 |
0.0% |
|
Other income (net) |
20,050 |
- |
|
|
General and administrative expenses |
(551,958) |
(898,753) |
|
|
Profit before interest and tax |
21,594,632 |
21,227,121 |
1.7% |
|
Finance costs (net) |
(9,549,814) |
(9,988,372) |
|
|
Profit before tax |
12,044,818 |
11,238,749 |
7.2% |
|
Tax expense |
(2,064,867) |
(3,069,058) |
|
|
Net profit |
9,979,951 |
8,169,691 |
22.2% |
The above reported numbers represent initial unaudited financial results and are subject to approval and confirmation by the Company’s Audit Committee and Board of Directors.
