Mubasher: Gulf International Chemicals (GICI) posted a 44% year-on-year decline in the third-quarter financials, according to a bourse statement.

Profits reached OMR 120,540 ($312,000) in Q3-16, compared to OMR 216,180 ($559,550) in Q3-15.

Profits after tax (PAT) fell 24.76% to OMR 532,780 in the first nine months of 2016, compared to OMR 708,080 in the prior-year period.

Profits from operations declined 24.80% to OMR 1.86 million in the nine-month period, compared to OMR 2.48 million in the same period of last year.