Oman National Engineering Q3 profit falls 42%
Mubasher: Oman National Engineering and Investment reported on Sunday a fall of 42.35% fall in the company’s profits for the third quarter of the fiscal year 2016 to OMR 501,790 ($1.3 million, compared to OMR 870,450 ($2.25 million) for Q3-15.
Net profit after tax for the first nine months of 2016 reached OMR 932,370, 38.82% down from OMR 1.52 million for the same period last year, according to a bourse filing.
Total revenues declined 0.2% to OMR 28.06 million for the nine-month period, versus OMR 28.11 million for the same period of 2015.
The company earlier reported a net profit of OMR 430,580 for H1-16, compared to OMR 653,450 for H1-15.
