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Construction Material Industry’s Q2 losses worsen 124%

Construction Material Industry’s Q2 losses worsen 124%
Construction Material Industry's headquarters (Photo credit: Company's website)
CMI
CMII
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Mubasher: Construction Material Industry Company losses deepened in the second quarter of fiscal 2016 by 123.76% year-on-year.

Net losses reached OMR 24,550 ($63,550) in Q2-16, compared to OMR 10,970 ($28,400) in Q2-15, according to a bourse filing released on Wednesday.

During the first half of fiscal 2016, the company’s profits shrank 70.51% to OMR 9,420 ($24,380) from OMR 31,930 ($82,660) in the same period of 2015.

Total revenue came to OMR 1.54 million by the end of June 2016, versus OMR 1.27 million a year earlier.

Total Expenditure reached OMR 1.53 million in H1-16, compared to OMR 1.24 million in H1-15.