Mubasher: Dhofar Tourism reported an 18.9% year-on-year decline in losses in the fourth quarter of 2016, according to the company’s statement to the Muscat Securities Market (MSM) on Tuesday.

Losses totalled OMR 212,620 ($550,000) in Q4-16 compared to nearly OMR 262,000 ($677,980) in Q4-15, as shown by the company’s financial results.

The company’s losses decreased by 20.6% in 2016 to around OMR 929,160 from OMR 1.17 million in 2015, the statement indicated.

Total sales grew 25.9% to OMR 2.43 million in 2016 compared to OMR 1.93 million in the year before.