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initial un-audited results for the 3-month period ended 31 March 2018
Apr 16, 2018 - 09:01AM Company : SOHAR POWER

Sohar Power Company SAOG announces initial un-audited results for the 3-month period ended 31 March 2018.

Pursuant to Circular K/2/2016 on the Disclosure of Initial Quarterly Financial Results issued by the Capital Market Authority, Sohar Power Company SAOG is pleased to disclose the following initial un-audited financial results for the 3-month period ended 31 March 2018.

 

 Sohar Power Company SAOG

 Comprehensive income 

Initial un-audited financial results for 3 month period ended 31 March 2018

 

March 2018

RO’000

March 2017

RO’000

Change

%

Revenue

15,717

14,868

5.71%

Direct/Indirect Cost

(13,371)

(12,326)

8.48%

Other Income

40

-

100.00%

Finance Cost

(1,420)

(1,588)

-10.58%

Taxation (Note)

(147)

(2,923)

-94.97%

Profit after tax

819

(1,969)

-141.59%

 

Note: The decrease in Taxation in 2018 compared to 2017 is due to the impact of the increase in Income Tax from 12% to 15% in 2017.

The above reported numbers represent initial un-audited results and are subject to approval and confirmation by Sohar Power Company SAOG Audit Committee and Board of Directors.

Disclosure of the approved un-audited Financial Statements for the 3-month period ended 31 March 2018 shall be issued in accordance with the Executive Regulation of the Capital Market Law after the Board of Directors meeting of Sohar Power Company SAOG to be held on 23 April 2018