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Al Batinah Hotels profits down 20% in Q1

Al Batinah Hotels profits down 20% in Q1
Al Batinah Hotels posts higher profits in Q1 (Photo Credit: Arabianeye-Reuters)
Al Batinah Hotels
BAHS
0.00% 1.96 0.00

Mubasher: Al Batinah Hotels reported a 20% decline year-on-year in its profits for the first quarter of 2015, according to a bourse statement.

Profits reached OMR 60,670 ($157,080) in the first quarter of 2016, compared to OMR 75,500 ($195,480) in the same quarter of 2015

On the other hand, total revenues grew 8.58% to OMR 432,780 ($1.1 million) in Q1-16, compared to OMR 398.590 ($1.03 million) in Q1-15.

Total expenses rose 16% to OMR 369,220 ($958,888) during the period, up from OMR 318,180 ($826,334).