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Shell Oman Q2 profits slide 27% on sales cost

Shell Oman Q2 profits slide 27% on sales cost
The company’s profits stood at OMR 3.51 million ($9.08 million) in Q2-17, compared to OMR 4.79 million ($12.4 million) in Q2-16
Shell Oman
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The unaudited financial statements of Shell Oman Marketing Company revealed a 26.7% decline in its profits for the second quarter of 2017, compared to the year-ago period.

The company’s profits stood at OMR 3.51 million ($9.08 million) in Q2-17, compared to OMR 4.79 million ($12.4 million) in Q2-16, according to a filing to the Muscat Securities Market (MSM).

The MSM-listed firm profits fell 25.5% to reach OMR 6.56 million in H1-17, compared to OMR 8.81 million in H1-16.

The sales cost and operating expenses grew 25.1% reaching OMR 222.66 million in H1-17, compared to OMR 177.94 million in the corresponding period in the year earlier.