This is to inform you that during the I Quarter ended 31 March 2018, (Group and Parent Company) has achieved a Net Profit of RO 1,039,835 (31.03.2017: Net Loss RO 241,291). The details are as under: 

                                                                                                                           RO Millions

Particulars	31.12.2018 Group	31.03.2017 Group	Change %	31.03.2018 Parent	31.03.2017 Parent	Change %
Total Income	2.350	0.607	287	1.676	0.246	581
Total Expenses	(1.043)	(0.884)	18	(0.636)	(0.487)	31
Net Profit/(Loss) before tax	1.307	(0.277)	(-) 572	1.040	(0.241)	(-) 532
Income Tax (Income)	0.019	0.055	(-) 65	-	-	-
Net Profit/(Loss) after tax	1.326	(0.222)	(-) 697	1.040	(0.241)	(-) 532
Profit/(Loss) attributable to: - Owners of the Parent  - Non-controlling interests	1.040 0.286 1.326	(0.241) 0.019 (0.222)	(-) 532 1405	1.040 - 1.040	(0.241) - (0.241)	(-) 532

 

The management has reclassified the investments to comply with IFRS 9, effective January 01, 2018 while computing the above results and this reclassification is to be approved by the new Board of Directors constituted at the last Annual General Meeting held on 28.03.2018.

 

Besides, the provisional results and IFRS 9 classifications are subject to audit review and to be approved by the Audit Committee and the Board of Directors.

 

With regards,

 

 

Awad Mohammed Faraj Bamkhalef

Chief Executive Officer