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Galfar Engineering Q4 financials turn negative

Galfar Engineering Q4 financials turn negative
Photo Credit: Arabianeye-Reuters
Galfar Engineering
GECS
-1.56% 0.06 -0.00

Mubasher: Galfar Engineering and Contracting posted a negative turn in the fourth quarter of 2015, registering losses worth OMR 23.3 million ($60.3 million) against profits worth OMR 2.17 million ($5.62 million) in Q4-14.

The company’s losses reached OMR 26.6 million in the fiscal year 2015, against earnings worth approximately OMR 197,000 in 2014.