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Omani Packaging Q3 profits fall 9%

Omani Packaging Q3 profits fall 9%
Earnings amounted to about OMR 275,980 (Photo Credit: Arabianeye-Reuters)
Omani Packaging
OPCI
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Mubasher: The unaudited financial statements of Omani Packaging posted a 9% year-on-year decline in profits during the third quarter of 2016 as compared to the same period a year ago.

Earnings amounted to about OMR 275,980 ($714,350) in Q3-16, compared to around OMR 303,330 ($785,140) in Q3-15, according to a bourse statement issued Thursday.

During the nine-month period, net profits gained 53.9% to reach about OMR 991,080 as compared to nearly OMR 643,930 in the same period of 2015.

Total revenues shrank 7.5% to OMR 9.66 million in the nine months of 2016 from OMR 10.44 million the corresponding period of 2015.