Mubasher: Oman Cables Industry posted a 11.7% profit decline in its quarterly profits, according to a bourse filing.

Profits reached OMR 4.96 million ($12.84 million) in the first quarter of 2016, compared to OMR 5.62 million ($14.55 million) in the same quarter of 2015.

Total revenues fell 15.9% to OMR 61.53 million ($159.818 million) during the period, compared to OMR 73.15 million ($190 million).

Total expenses stood at OMR 56.57 million ($146.93 million) in the first quarter of 2016, a decline 16.2% from OMR 67.52 million ($175.38 million) during the corresponding period of 2015.