Muscat - Oman Oil Marketing Company’s (OOMCO) group net profit for the first six months of the current year fell by over 20 per cent to RO3.183mn, the fuel retailer said in a filing to the Muscat Securities Market (MSM) on Tuesday.
OOMCO as a group had reported a net profit of RO3.98mn in the first six months of the last year.
In terms of overall revenue, the group also suffered a set back as its earnings for the first half of the current year fell 4.7 per cent to RO286.11mn as against RO 300.19mn it reported in the corresponding period, a year ago.
According to the filing, the group’s earning per share for the first six months of the current year stood at 49bz per share, which is 20.2 per cent lower than the 62bz per share it reported in the same period of last year.
During the period under consideration, Oman Oil Marketing CO’s parent firm’s net profit also declined to RO3.18mn as against RO3.98mn reported a year ago. Similarly, the company’s parent firm’s revenue also declined to RO285.57mn in the first two quarters of this year.
In terms of operating cost, which includes cost of sales, operating expenses, share of losses from investment and tax, the group company showed an improvement of 5 per cent at RO284.06mn in the first six months of 2019 as against RO297.42mn in the same period a year ago.
