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FINANCIAL NEWS
Oman’s Salalah Mills plans USD10.3m polypropylene bag project
11 Aug 2015
(MENAFN) Salalah Mills made plans to develop a project for producing polypropylene bags with an estimation of USD10.3 million, looking at producing approximately 48 million bags per year.
Salalah Mills’ parent company faced a decline in net profit falling from USD8.5 million for the first half of last year to a USD7.35 million in 2015, marking a slump of 13.6 percent.
Despite the unsettling numbers, the parent company sales value summed up to USD87 million in the first half, increasing 3.7 percent this year compared to same period in 2014.
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