Sunday 22 April 2018

Oman Cables Q1 profit up 8.9pc

Muscat, April 27, 2014

Oman Cables Industry has registered a 8.9 per cent growth in its net profit for the first quarter this year which rose to RO3.5 million (9 million) from RO3.2 million in 2013.

The sales revenue of the company was RO64.7 million, up 4.4 per cent over the same period last year, reported the Times of Oman.

"The increase in sales is mainly on the account of an increase in volume sold in spite of lower copper prices compared to the same period in 2013," said the report citing a company statement.

The demand for the products remains in line with the long term growth of infrastructure planning of Oman and the Mena region, it added.


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