Unaudited Financial Statement for the period Jan-Jun 2016

The sales during Jan-Jun 2016 has increased to RO 186.3 million from RO 172.9 million, an increase of RO 13.4 million (8%) mainly on account of :

  1. increase in domestic fuel prices due to the introduction of fuel subsidy reforms effective mid Jan 2016, despite drop in the sales volume attributed to the drop in product demand in the retail business segment and
  2. better performance in commercial business segment. The net profit achieved during Jan-Jun 2016 stood at RO 4.5 million (Jan-Jun 2015: RO 5.2 million), marking a decrease of 13% when compared with the same period of 2015, mainly due to decreased margins on account of introduction of uniform oil prices throughout Oman and increase in operating & administration expenses during the period. During the period from July 2015 to June 2016, six new filling stations with the new brand have been opened taking the number of filling stations to 197, with another 4 filling stations in various stages of construction.

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