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Muscat Gases posts 26.6% lower profit in 9M

Muscat Gases posts 26.6% lower profit in 9M
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MGC
MGMC
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Mubasher: The Muscat Gases Company (MGC), listed on the Muscat Stock Exchange (MSM), witnessed a decrease in its profits during the first nine months of 2020 by 26.6% year-on-year (YoY).

The company’s preliminary financial results showed that it achieved profits of OMR 152,640 ($395,270) during the nine-month period, compared to about OMR 207,940 ($538,490) in the same period of last year.

The results indicated an increase in the company's expenses by 31.84%, to reach OMR 11.68 million, compared to about OMR 8.86 million for the corresponding period in 2019.