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FINANCIAL NEWS
Oman’s PSC net profit down 25.2 percent in 9M
23 Oct 2014
(MENAFN) Oman’s Port Services Corporation (PSC) announced it has posted a decline in its net profit by 25.2 percent for the January-September period of this year due to the termination of major cargo handling operations at Port Sultan Qaboos (PSQ), Muscat Daily reported.
During the first nine months of this year, the company said that it reported a net profit of USD9.55 million, a decline compared to USD12.76 million in which was registered during the corresponding period of last year.
The corporation also said that the drastic reduction in throughput in Port Sultan Qaboos has resulted in a 21.8 percent reduction in operating income, which amounted to USD34.28 million compared to USD43.83 million in recorded in the same period of 2013.
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