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Salalah Port Services Q3 profit rises 134%

Salalah Port Services Q3 profit rises 134%
Net profit for the first nine months of 2016 rose 23.4% to OMR 3.95 million (Photo credit: Company's website)
Salalah Port Services
SPSI
-10.00% 0.31 -0.03

Mubasher: Salalah Port Services Company posted on Sunday a net profit of OMR 1.27 million ($3.29 million) for the third quarter of fiscal 2016, 134.3% up from OMR 542,000 ($1.4 million) for Q3-15.

Net profit for the first nine months of 2016 rose 23.4% to OMR 3.95 million from OMR 3.2 million for the same period of 2015, according to a bourse filing.

Total revenues grew 12.7% to OMR 41.58 million in the nine-month period, compared to OMR 36.89 million a year ago.

The company earlier reported a net profit of OMR 2.68 million for the first half of 2016, versus OMR 2.66 million for H1-15.