Oman – Mubasher: Gulf International Chemicals reported an OMR 160,000 gain from selling a portion of shares held for the purpose of investing surplus cash.
These realised profits amounting to 7.62% of the company's capital will be reflected in the company’s financial statements for the first quarter of 2015, it said in its filing to the Muscat Securities Market (MSM).
The Oman-listed firm also said that it is currently working on increasing the production capacity of some specialised products to meet growing demand. This may contribute to increasing the company’s operating profits, it added.
Unaudited financials for the chemicals company for 2014 showed a net profit of OMR 391,600 compared to OMR 249,100 in 2013, registering a significant growth by 57.2%.
The company’s capital amounts to OMR 2.1 million divided on 21 million shares.
