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Oman Cables Company profits soar 58.7 percent

28 Jul 2013

(MENAFN) Oman Cables Company (OCI) posted a net profit growth of 58.7 in the first half of 2013. Profits climbed from USD11.7 million to reach USD18.6 million in the same period last year, reported Oman Observer.

OCI sales in first half were at USD329.4 million, a 14.9 growth from sales in the first half of last year. ï¿½The increase in sales in spite of lower copper prices compared to H1 2012 is mainly on account of an increase in volume sold. The demand for OCI products remains in line with the long term growth of infrastructure plan of Oman and the MENA region,ï¿½ stated the company.

A new product reliability test centre is being established at OCT Rusayl Complex and will be operational in the third quarter of this year.

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