Oman’s Taageer Finance posts 15% profit drop in Q1

Mubasher: Taageer Finance’s unaudited financial statements showed a 14.6% decline in its profits for the first quarter of 2017, compared to the same period of 2016.

Profits stood at OMR 910,000 ($2.36 million) in Q1-17, compared to OMR 1.065 million ($2.76 million) in same period last year, according to a filing to the Muscat Securities Market (MSM) on Thursday.

Taageer’s assets rose 5.8% to OMR 34.90 million by the end of Q1-17, compared to assets of OMR 32.99 million in the corresponding period of 2016.

The Omani company achieved net profits of OMR 4.47 million in 2016, compared to OMR 4.42 million in 2015.

Mubasher Contribution Time: 27-Apr-2017 09:56 (GMT)
Mubasher Last Update Time: 27-Apr-2017 09:58 (GMT)