Mubasher: Packaging Company’s profits went up 23.6% in the first quarter of 2017, compared to profits in the same period in 2016, according to the company’s unaudited financial statements.
Profits stood at OMR 340,510 ($884,070) in Q1-17, compared to OMR 275,450 ($715,160) in Q1-16, according to a statement to the Muscat Securities Market (MSM) on Monday.
The company’s revenues in Q1-17 shed 2.6% reaching OMR 2.28 million, compared to OMR 2.34 million in the same period the year before.
The company’s quarterly expenses in 2017 decreased 5.8% reaching OMR 1.94 million, compared to OMR 2.06 million in the year-ago period.
The profits of Q4-16 retreated 7.9% reaching OMR 128,540, compared to OMR 139,510 in the corresponding period in 2015.
Net profits of 2016 after taxes amounted to OMR 834,210, compared to OMR 515,020 in 2015.
