Sembcorp Salalah net profit rises driven by 58% drop in tax

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هذه الصفحة متوفرة بهذه اللغة: العربية

12 July 2018

MUSCAT – Sembcorp Salalah Power and Water Co. SAOG reported today an increase in its net profit, for the first half of the year, to RO 7.2 million, compared with 5.4 million in the same period of 2017.

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The company’s unaudited financial statements, released today on Muscat Securities Market (MSM), show a decline in revenues from RO 40.77 million, to RO 34.77 million. And a decrease in profit before tax from RO 9.2 million in 2017, to RO 8.8 million in the first half of 2018.

However, the decrease in income tax expenses by 58.8% from RO3.7 million to RO1.5 million, reflected positively on the company’s net profit by 33.1%.

In May, the company’s operations in Salalah were affected by tropical Cyclone Mekunu. “Our water production plant is temporarily shut down due to a severe worsening of sea conditions during the cyclone”, the company said then.