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Decision taken at the Board meeting held on 01st Febuary 2017
Feb 01, 2017 - 06:21PM Company : MUSCAT FINANCE

The Audited Financial results of the Company for the financial year 2016 were approved by the Board of Directors on 01st Feb 2017. These are subject to approval of the Central Bank of Oman and the shareholders of the company at the forthcoming Annual General Meeting scheduled for March 28, 2017

 

The Financial Statement for the year 2016 audited by Deloitte, statutory auditors, were approved by the Board. Key results are as under:

                                                                                                                Amount in RO ‘000

Particulars

2016

2015

Change%

Gross Income

14,415

13,218

9%

Total Expenses

9,277

8,862

5%

Net Profit after tax

5,138

4,356

18%

Net investment in Finance debtors

149,858

154,015

(3%)

 

The Board recommended a Dividend of 17% comprising a Stock Dividend of 7% and a Cash Dividend of 10% for the year 2016, subject to approval of Central Bank of Oman and the Shareholders of the company.

 

 

Best Regards

 

 

Bikramjit Singh Rishi

Chief Executive Officer