By: Islam Fadl
Mubasher: Total profits of the Omani petrochemical sector grew in the third quarter of fiscal 2016 by 8.2% to OMR 982,740 ($2.54 million), compared to OMR 908,620 ($2.35 million) for Q3-15.
However, total profits for the first nine months of 2016 declined by 3.4% to OMR 2.8 million from OMR 2.9 million for the same period last year.
Oman Chlorine recorded the highest gains in the two periods, with a net profit of OMR 510,000 foe Q3-15 and OMR 1.22 million for the nine-month period.
National Detergent came second with a net profit of OMR 352,200 for Q3-16 and OMR 1.01 million for the January-September period.
Gulf International Chemicals made the lowest gains as its profits for Q3-16 amounted to OMR 120,540, and profits for the first nine months of 2016 amounted to OMR 532,800.
The biggest growth in profits was made by National Detergent as its earnings for Q3-16 and the nine-month period rose by 106% and 101.7% respectively.
On the flipside, Oman Chlorine made the biggest fall in profits with a 44.24% decrease in the company’s profits for Q3-16 and a 27.4% drop in its profits for the first nine months this year.
Translated by: Elwy el-Manzalawy
