Mubasher: Al Hassan Engineering Company posted on Sunday a net profit of OMR 52,000 ($134,720) in the first quarter of 2016, against net losses of OMR 1.48 million ($3.83 million) in the same period of 2015.
Contracts and other income amounted to OMR 25.97 million ($67.45 million) in q1-16, rising 15.6% from OMR 22.47 million ($58.36 million) in Q1-15, according to the company’s initial unaudited financial statements.
Total expenses also increased 7.7% to OMR 25.92 million ($67.32 million) in the three-month period, versus OMR 24.06 million ($62.49 million) a year earlier.
The company earlier reported net losses of OMR 2.6 million ($6.75 million) in 2015, compared to OMR 1.44 million ($3.74 million) in 2014.
