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Oman Oil Q4 profits down 39% in Q4

Oman Oil Q4 profits down 39% in Q4
Oman Oil's total sales grew 15.7% to OMR 425.92 million in 2016 (Photo Credit: Company Website)
Omanoil
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Mubasher: Oman Oil Marketing posted a 38.7% decline year-on-year in its profits during the fourth quarter of 2016, according to a bourse statement.

Profits reached OMR 2.04 million ($5.28 million) in Q4-16, compared to OMR 3.33 million ($8.62 million) in Q4-15.

The company generated profits of OMR 9.6 million in 2016, down 21.4% from OMR 12.21 million in 2015.

Total sales grew 15.7% to OMR 425.92 million in 2016, compared to OMR 368.15 million in 2015.