Salalah Port Services Company's net profit declines 30%

08/10/2017 21:14 AST

Salalah Port Services Company's (SPSC) net profit for the nine months period ended September 30, 2017 fell by 30 per cent to RO2.76mn from RO3.94mn in the same period of the previous year.

The company's revenue increased by 1.9 per cent to RO42.12mn during the first nine months of 2017 against the same period of last year, according to its initial financial results announced to the Muscat Securities Market on Sunday.

The volumes handled at the port's container terminal rose by 11.7 per cent in 2017 to 2.79mn twenty feet equivalent (TEUs) from 2.5mn TEUs in the first nine months of 2016. General cargo volumes increased 5.4 per cent to 10.27mn tons from 9.74mn tons in the previous year.

Total expenses of SPSC rose 5.3 per cent to RO39.35mn during the first nine months of 2017 from RO37.37 in 2016.


Muscat Daily

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