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Oman Cables posts 41% rise in profits

January 24, 2014

Staff Reporter MUSCAT Oman Cables Industry has had a 41.8 per cent rise in net profits for 2013 posting 16.9 million rials against 11.9 million rial the previous year. The board has recommended a cash dividend of 88 baisa per share with a face value 100 baisa. In a filing to the Muscat Securities Market , the company said that the board of directors had approved the audited financial statements and recommended them along with the dividend proposal for approval of shareholders at the next annual general meeting. The company did sales worth 306.1 million rials during 2013 against 257.2 million rials the previous year. There was a 19 per cent growth. Earning per share went up to 188 baisa in 2013 compared to 133 baisa in 2012. The net asset per share was up at 760 baisa on December 31 , compared to 653 baisa on the same day last year.OMAN TRIBUNE

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Source: Oman Tribune

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