16 May 2010
(MENAFN) Oman-based Galfar Engineering and Contracting Company posted a net loss of $2.78 million in the first-quarter of 2010, compared with a net profit of $11.9 million a year earlier, Reuters reported.
Galfar’s Chairman Salim Al-Araimi attributed the loss to the increase in costs of Muscat Expressway. The company is currently building the Muscat Expressway road awarded by the government two years ago.
However, Galfar said it has a healthy order book position and expects to post improved results in the second half of the year. The company has won a number of infrastructure contracts in 2009.
Shuaa Capital began coverage of Galfar Engineering with a ‘sell’ rating in March, expecting the company’s earnings to remain under pressure.
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more