AMCI
In compliance with Article (3) of disclosure Rules Issued by CMA the Management of Al Maha Ceramics SAOG, is pleased to announce the initial unaudited results for the period ended 31st Dec, 2014 as below:
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For the year ended 31st Dec 2014 |
For the year ended 31st Dec 2013 |
% age Growth |
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|
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|
|
|
RO |
RO |
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|
|
|
|
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| Total Revenue |
10,800,619 |
9,767,726 |
10.6% |
| Total Expenses |
7,726,468 |
7,036,266 |
9.8% |
| Net profit before tax |
3,074,151 |
2,731,460 |
12.6% |
| Net profit after tax |
2,702,737 |
2,514,256 |
7.5% |
Notes:
1. The above results are initial figures and subject to the statutory Audit, approval of Audit Committee and Board of Directors.
2. There was a one-time provision of RO 750,000 for the clay, which had been extracted in the past, and this was disclosed in the IPO prospectus. The company received a letter from the Public Authority for Mining on 14th Jan 2015 which stated that the amount to be paid by the company was reduced from RO 750,000 to RO 375,000. Accordingly, the reduction of provisions by RO 375,000 has been considered in the above initial unaudited results for the year 2014.
Arvind Bindra
CEO
