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Shell Oman profit drops 12.4% in FY14

Shell Oman profit drops 12.4% in FY14
Photo Credit: Arabianeye-Reuters
Shell Oman
SOMS
2.47% 0.83 0.02


Financial statements for Shell Oman Marketing for the fiscal year (FY) ending December 31, 2014, revealed a drop in profit by 12.4% to OMR 9.2 million ($24 million)  against OMR 10.5 million ($27.3 million) during the same period of 2013.


The Company’s revenues fell 16% to OMR 361.5 million during the period, compared to OMR 430.4 million.


It is worth noting that Shell Oman Marketing had reported a profit decline by 9.8% during the first nine months of the year, ending September 30, 2014 to OMR 9 million.