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Port Services posts 246% rise in profit at 2.7m rials

Port Services Corporation has posted a net profit of 2.72 million rials during 2016, a 246 per cent growth compared to 1.86 million loss posted the previous year.

In a filing to the Muscat Securities Market, the company said its total operating revenue was up by 25.4 per cent to 4.32 million rials and operating expenses were down by 32.6 per cent to 3.69 million rials from 5.48 million rials.

Non-operating income was up by 183.3 per cent to be at 2.76 million rials from 974,343 rials in 2015. Earnings per share went up to 29 baisa from 20 baisa.

Staff Reporter