Mubasher: The unaudited financial statements of Oman Cables Industry reported a decline of 13.8% in profits during the third quarter of 2016 as compared to the same period a year ago.

Net earnings stood at OMR 2.15 million ($5.56 million) in Q3-16, compared with OMR 1.89 million ($4.89 million) in Q3-15, according to a bourse statement issued on Monday.

During the nine-month period, profits decreased 9.16% to OMR 11.86 million from OMR 13.05 million in the same period in 2015.

Total revenues shrank 17.95% to reach OMR 172.83 million in nine months this year as compared to OMR 210.65 million in the corresponding period in 2015.