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Initial Annual UnAudited Financial Results for the Year Ended Dec 2017
Jan 15, 2018 - 09:47AM Company : OMINVEST

OMINVEST

INITIAL ANNUAL UNAUDITED FINANCIAL RESULTS

FOR THE GROUP AND PARENT COMPANY

FOR THE YEAR ENDED 31 DECEMBER 2017

 

 

In compliance with current regulatory requirements, Oman International Development and Investment Company SAOG (“OMINVEST”) is pleased to report the initial annual unaudited financial results for the year ended 31 December 2017.

 

 

        Group

%

 

Parent Company

%

 

Dec-17

Dec-16

Change

 

Dec-17

Dec-16

Change

 

- - - - RO ’000 - - - -

 

 

- - - - RO ’000 - - - -

 

Total income

237,816

227,413

5%

 

36,967

35,177

5%

Total expenses

        (203,959)

        (189,838)

7%

 

            (9,764)

          (10,381)

-6%

Profit for the period

           33,857

           37,575

-10%

 

           27,203

           24,796

10%

Profit attributable to:

             

  - Shareholders of Ominvest

           20,532

           23,875

-14%

 

           27,203

           24,796

10%

  - Non-controlling interest

           13,325

           13,700

-3%

 

 

 

 

 

 

Please note:

 

1. Comparatives for 2016 are extracts from the audited results.

 

2. The Group Insurance subsidiary and Insurance associate’s actuarial / mathematical reserves are based on management estimates and are subject to external actuarial review and approval and may result in further adjustments.

 

3. Group results incorporate the unaudited management accounts / estimates of subsidiaries and associates. These results are subject to finalization / audit and approval of respective Boards of subsidiaries and associate companies.

 

4. The Group has early adopted IFRS 9 during last year. IFRS 9 adjustments on Group companies / associates are based in initial estimates and may result in further adjustments.

 

5. Audited Group and Parent Company financial statements will be submitted in compliance with the current regulations.

 

These initial annual unaudited financial results are subject to statutory audit, review by the Audit and Control Committee andapproval by the Board of Directors of OMINVEST.