Sembcorp Salalah profits grow 9% in Q2 on higher revenues

Sembcorp Salalah profits grow 9% in Q2 on higher revenues
Sembcorp’s profits reached OMR 5.15 million ($13.3 million) in Q2-17
Sembcorp Salalah SSPW 0.00% 0.21 0.00

Mubasher: Sembcorp Salalah Power and Water Company said its profits rose by 9.3% year-on-year in the second quarter of 2017.

Sembcorp’s profits reached OMR 5.15 million ($13.3 million) in Q2-17, compared to OMR 4.71 million ($12.2 million) in Q2-16, according to a statement to the Muscat Securities Market (MSM).

As for the first six months of 2017, the power firm's profit decreased 31.49% to OMR 5.42 million from OMR 7.91 million in H1-16.

Sembcorp’s revenues rose to OMR 40.77 million in H1-17, from OMR 39.9 million in the same period in the year before.

The Omani company previously logged a 91.5% profit drop to OMR 271,380 in Q1-17, compared to OMR 3.2 million in the corresponding period in 2016.

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Source: Mubasher

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