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Oman's Hassan Engineering sees loss in FY14

Oman's Hassan Engineering sees loss in FY14
AHEC
HECI
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Financial statements for Al Hassan Engineering for the fiscal year (FY) ending December 31, 2014, revealed a net loss of OMR 1.7 million ($4.5 million) against a profit of OMR 655 THD ($1.7 million) during the same period of 2013.


Contract and other income registered an increase of 21% to OMR 76.4 million during the period, compared to OMR 63.35 million. 


Financials for the Oman-listed firm showed a rise by 25% in total expenses to OMR 78.31 million by the end of 2014 against OMR 62.6 million during the corresponding period of 2013.


 The Company’s loss reached OMR 1.8 million during the nine-month period ending September 30, 2014, compared to a profit worth OMR 606 THD during the same nine months of 2013.