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FINANCIAL NEWS
Oman’s Raeco earns OMR11.3mn revenue
02 Aug 2017
(MENAFN) Rural Areas Elect Co. (Raeco), which serves customers in the rural area of Oman, proclaimed it achieved revenue of OMR11.3mn last year.
Additionally, the firm’s revenue jumped to 13 percent to OMR95mn last year, from OMR84mn in the previous year, which was driven by 15 percent growth in government subsidy.
Moreover, revenue from elect sales reached OMR13mn and government subsidy increase to OMR77mn in 2016, from OMR67mn in the previous year.
The whole number of Raeco customers increased by 7 percent to 35.458 last year, while net additions of 2.271 customers were added to the customer base in 2016.
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MENAFN0208201700450000ID1095681672
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