Taageer Finance’s 6 month net profit declines 4.7%

Muscat - Taageer Finance Co reported a 4.67 per cent decline in net profit for the six months period ended June 30, 2017. The company’s net profit decreased to RO2.06mn for first six months of 2017 compared with RO2.16mn in the same period a year ago, according to disclosure filed to the Muscat Securities Market on Wednesday.

Taageer Finance’s net investment in finance leases rose by 6.4 per cent to RO150.78mn as of June 30, 2017 from RO141.73mn a year ago. Its total revenue grew 11 per cent to RO7.28mn from RO6.56mn in the first six months of 2016.

The company’s total expenses jumped by 18.7 per cent to RO5.21mn from RO4.39mn a year ago.

Muscat Daily Contribution Time: 06-Jul-2017 08:52 (GMT)
Muscat Daily Last Update Time: 06-Jul-2017 08:52 (GMT)