Mubasher: Gulf Mushroom Products posted a decline of 27.8% in profits of the second quarter of 2016 as compared to the same period in 2015, according to a bourse statement.

The MSM-listed firm’s earnings reached about OMR 40,240 ($104,290) in Q2-16 as compared to nearly OMR 55,760 ($144,520) in Q2-15.

During the first half of 2016, Gulf Mushroom’s profits stood at approximately OMR 194,130 as compared to about OMR 207,470 in H1-15; a decrease of 6.4%.

Total revenues reached OMR 3.08 million in H1-16, while expenses amounted to OMR 2.86 million.