Oman’s Galfar net profit falls 64 percentin Jan-Sep

19 Oct 2014

(MENAFN) Oman’s Galfar Engineering and Contracting Co announced it has posted an annual decline by 64 percent in profit for the January-September period, with the company’s consolidated net profit dropping to reach USD6.14 million compared to USD17.28 million in the corresponding period last year, Muscat Daily reported.

The parent company’s net profit reached USD7.82 million, 46 percent down compared to the same period last year, while the company’s contracting revenue fell by 6 per cent to USD736.54 million.

Meanwhile, Galfar’s total expenses stood at USD730.51 million for the cited period, which is a decrease of 5 percent compared to last year.

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