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FINANCIAL NEWS
Major Omani firms to post 20pct fall in net earnings
06 Apr 2017
(MENAFN) Major firm listed on Muscat Market are projected to report a 20 percent year on year decline in net earnings to OMR134.1mn for the first quarter of the recent year.
On the other hand, the joined revenue of the market firms is estimated to increase by 2.4 percent at OMR991mn for the cited quarter.
Moreover, the revenue of MSM30 firms, excluding investment holding firms, is estimated to grow by 3 percent on year on year basis to OMR931.5mn.
Accordingly, few banks will show margin pressure on higher funding costs and estimated higher provisioning amid the quarter.
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