Al Suwadi Power Company SAOG (the “Company”) is pleased to disclose the following initial unaudited financial results for the 3-month period ended 31 March 2016, and a comparison with the same period of the preceding financial year.
|
|
3-month 2016 RO Unaudited |
3-month 2015 RO Unaudited |
Percentage change |
|
Revenues |
8,608,401 |
7,633,523 |
12.8% |
|
Direct Costs |
(7,815,032) |
(6,950,567) |
|
|
Gross Profit |
793,369 |
682,956 |
16.2% |
|
Other income |
- |
20,272 |
|
|
General and administrative expenses |
(248,244) |
(236,512) |
|
|
Profit before interest and tax |
545,125 |
466,716 |
16.8% |
|
Finance costs (net) |
(3,006,883) |
(3,166,307) |
|
|
(Loss) before tax |
(2,461,758) |
(2,699,591) |
8.8% |
|
Tax expense |
(404,225) |
(688,289) |
|
|
Net (loss) for the period |
(2,865,983) |
(3,387,880) |
15.4% |
The above reported numbers represent initial unaudited financial results and are subject to approval and confirmation by the Company’s Audit Committee and Board of Directors
