FINANCIAL NEWS

Oman major firms predict fall in revenues

07 Jan 2016

(MENAFN) Major Omani firms are predicted to post a 0.7 percent decrease in income at USD 1.640mn for 2015, compared to a year earlier.

However, revenues of these firms are estimated to edge up by 1.9 percent to USD 9.62bn for the same year, over 2014.

The decline is because of a slowdown in need and subdued performance of investment companies trailing a trend on the Muscat Securities Market (MSM).

Moreover, incomes of MSM firms, involving investment holding companies, are estimated at USD 2.39mn, an increase of 0.8 percent yearly and a fall of 3.2 percent.

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