Mubasher: Sharqiyah Desalination turned to losses of OMR 208,510 ($539,700) in the first quarter of 2017, against profits of OMR 93,430 ($241,800) in the same period of 2016.
Revenues rose 22.6% reaching OMR 2.93 million in Q1-17, compared to OMR 2.39 million in the corresponding period of the year before, according to the company’s financial statements.
The total cost of financing expenses increased 17.93% to OMR 2.7 million in Q1-17, compared to OMR 2.29 million in Q1-16.
The Omani company had previously reported a drop of 62.8% in annual profits reaching OMR 614,280 in 2016, compared to OMR 1.65 million in 2015.
