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27/04/2014 04:11 AST
Oman Cables Industry said its first quarter net profit this year rose by 8.9 per cent to OMR3.5 million from OMR3.2 million for the same period last year.
Sales revenue of the company was OMR64.7 million, an increase of 4.4 per cent over the same period last year.
"The increase in sales is mainly on the account of an increase in volume sold in spite of lower copper prices compared to the same period in 2013," said a statement posted on MSM website. The demand for the products remains in line with the long term growth of infrastructure planning of Oman and the Mena region.
The sales of the group for three month period ending March, 2014 was OMR73.2 million, a fall of 1.6 per cent over same period last year.
The group net profit after tax attributable to shareholders of Oman Cables for the quarter is OMR3 million (net of Oman Aluminium Processing Industries dividend of OMR0.786 million received by Oman Cables) compared to OMR3.7 million during the same period in 2013.
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Times of Oman
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