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Galfar Engineering Q3 profit falls 63.8pc

Muscat, November 8, 2009

Oman's Galfar Engineering & Contracting made a third-quarter net profit of 1.25 million rials ($3.25 million), down 63.8 per cent from the same period last year.

The company made a net profit of 9.72 million rials in the first nine months of the year, without offering a breakdown of the quarterly data.

That compared to 15.95 million rials in the period a year earlier, it said on a statement on the Muscat bourse website.

It made a net profit of 3.45 million rials in the third quarter of 2008.

The firm's profit fell short of two analysts forecasts in a Reuters survey in October. -Reuters




Tags: Galfar | Construction | Oman |

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