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12/02/2015 08:26 AST
Muscat Gases Company SAOG posted a six per cent drop in net profit after tax for
the year ended December 31, 2014, a decline it attributed to
competition and the increasingly challenging LPG bulk supply market environment.
Net profit after tax dipped to RO 1.363 million for 2014, down from RO 1.443 million a year earlier.
Omar Ahmad Salim Qatan, Chairman, said in the Directors' Report that the decline was to a number of factors, including the increase in the average LPG Bulk purchasing price, zero exports of LPG and other gases in the wake of a supply crunch from the source, and severe competition in the domestic LPG supply industry.
Revenues totaled RO 9.838 million last year, mirroring the previous year's figure of RO 9.838 million.
He said the company is implementing new strategic projects in different locations around the Sultanate aimed at diversifying sources of income and
ensuring sustainable growth. Besides, the company is continuing to press the authorities concerned to increase the allocation of LPG for its customers.
The Board recommends a cash dividend of 40 per cent for 2014.
Oman Daily Observer
10/07/2017
Muscat Gases Company said its shareholders have approved a proposal to set up United Industrial Gases Company LLC and transfer the company's industrial gas business to the new limited liability firm.
Times of Oman
23/03/2014
Muscat Gases Co. SAOG announces that the operations of our Legal adviser ISSA AL SABBAGH LAWYERS & LEGAL CONSULTANTS has been taken over by ZUBAIDA AL BALUSHI ADVOCATES & LEGAL CONSULTANTS and ZU
Press Release
28/04/2013
Board of Directors meeting for the period ended 31st March 2013 was held on 27/04/2013,Saturday and approved the Unaudited Financial statements. In compliance with Article (3) of Disclosure Rules iss
Press Release
| Ticker | Price | Volume |
|---|
08/08/2025
Burjeel Holdings, a leading super-specialty healthcare services provider in MENA, has delivered a strong top-line growth of 18.7% to AED1,403 million ($381.98 million) in Q2 2025, driven by a 12.1% i
Trade Arabia
08/08/2025
Saudi Arabian Mining Company (Maaden) has reported a 73% jump in its net profit for the first half, which soared to SAR3.47billion ($924 million) from SAR2.01 billion ($535 million) last year, mainly
Trade Arabia
08/08/2025
Market heavyweight Industries Qatar (IQ) - the holding entity of Qatar Petrochemicals, Qatar Fertiliser and Qatar Steel - has reported net profit of QR2bn in the first half (H1) of 2025.
The
Gulf Times
08/08/2025
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Gulfnews
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia