Mubasher: Oman National Engineering and Investment Company (ONEIC) profit advanced 116.7% year-on-year in the fourth quarter of 2015.

Net profit reached OMR 390,000 in Q4-15, versus OMR 180,000 in the same period of 2014.

However, annual profit declined in 2015 by 2.6% to OMR 1.91 million from OMR 1.96 million in 2014.

ONEIC’s board of directors recommended cash dividends at 9% of the capital and 11.11% bonus shares to raise the company’s paid-up capital to OMR 10 million. The recommendation will be submitted to shareholders in the general meeting to be held on 23 March.

The Muscat-listed company’s nine month profit fell 14.6% to OMR 1.52 million, compared to OMR 1.78 million in the same period of 2014.