Announcements

13.04.2017

Initial unapproved, unaudited results for three month period ended 31 March 2017

The management of the Company is pleased to disclose its initial, unapproved, unaudited results for three month period ended 31 March 2017, as required by the CMA Circular E/2/2016.

For three month period ended 31 March 2017

For three month period ended 31 March 2016

Percentage change

RO

 RO

Revenue

18,321,451

17,723,207

3.38%

Cost of sales

(10,431,193)

(9,664,895)

7.93%

Gross profit

7,890,258

8,058,312

-2.09%

Administrative and general expenses

(143,814)

(206,054)

-30.21%

Profit before interest and tax

7,746,444

7,852,258

-1.35%

Finance income

55,001

22,628

143.07%

Finance costs

(3,987,942)

(4,263,512)

-6.46%

Profit before tax

3,813,503

3,611,374

5.60%

Income tax expense (note)

(3,542,121)

(434,532)

715.16%

Profit after tax for the year

271,382

3,176,842

-91.46%

Note: Significant increase in income tax expense is due to one off deferred tax expense impact arising from change of tax law in Oman.