Mubasher: The financial statements of Gulf Mushroom Products showed a decline in profits by 26.69% in the first quarter of 2017.

Profits totalled OMR 112,820 in the first quarter of 2017 compared to OMR 153,890 in the same quarter last year, according to the company’s statement to the Muscat Securities Market (MSM).

Quarterly revenues grew by 1.54% to OMR 1.62 million compared to OMR 1.6 million in Q1-16, the statement noted.