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FINANCIAL NEWS
Oman’s listed firms record fall at OMR142mn inQ1
16 May 2017
(MENAFN) Omani listed firms have recorded a decline in revenue at OMR142mn for the first quarter of the year, down from OMR218mn in the same period of 2016.
Accordingly, a subdued business environment in main sectors in the Sultanate coupled, along with cost escalation, has resulted in lower net earnings of listed companies.
However, there was a fall in the joined revenue of MSM 30 Index firms as well, which declined to OMR121.4mn for the cited period of this year from OMR170.3mn for Q1, 2016.
Additionally, there was an increase in royalty paid by telecom service providers from 7 percent to 12 percent, while the growth in transportation costs affected the industrial sector.
MENAFN1605201700450000ID1095481551
MENAFN1605201700450000ID1095481551
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