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Unaudited Financial Results of Muscat Finance
Jan 12, 2017 - 06:18PM Company : MUSCAT FINANCE

After Compliments,

Further to CMA Circular No. E/5/2014 dated 29 May 2014. The initial un-audited financial results of the company for the year ended 31st  December  2016 are as follows:

 

                            Amount in RO ‘000

 

31-Dec-16

31-Dec-15

Growth

Net Investment in Finance Debtors

149,858

154,015

-3%

Net Equity

38,129

35,743

7%

Gross Income

14,415

13,219

9%

Interest expense

4,072

3,015

35%

Net Operating Income

10,343

10,203

1%

Total Expenses

3,306

3,194

4%

Operating Profit

7,037

7,009

0%

Provisions

1,294

1,999

-35%

Net Profit before tax

5,743

5,010

15%

Net Profit after tax

4,902

4,355

13%

 

The results are unaudited and subject to approval / confirmation of

-The Statutory Auditors

-The Audit Committee and The Board of Directors

-Central Bank of Oman

-Shareholders of the Company

 

Best Regards,

Bikramjit Singh Rishi

Chief Executive Officer