Mubasher: The unaudited financial statements of Hotels Management Co International (HMCI) reported a growth of 15.2% in profits during the fourth quarter of 2016 as compared to the same period a year ago.
Earnings increased to OMR 1.06 million ($2.74 million) in Q4-16 from OMR 920,000 ($2.38 million) in Q4-15, according to a bourse statement issued on Wednesday.
Net profit, after excluding taxes, decreased by 13.8% to reach OMR 1.87 million for the fiscal year 2016 from OMR 2.17 million in FY15.
Revenues fell by 7.6% to total OMR 10.41 million in FY16 when compared to OMR 11.26 million.
