Al Suwadi Power Company SAOG (the “Company”) is pleased to disclose the following initial annual unaudited financial results for the year ended 31 December 2016, and a comparison with the preceding year ended 31 December 2015.
| Year ended 31 December 2016 RO’000s | Year ended 31 December 2015 RO 000s’ | Percentage change |
Unaudited | Audited | ||
Revenues | 69,357 | 66,714 | 4.0% |
Direct Costs | (46,108) | (43,481) |
|
Gross Profit | 23,249 | 23,233 | 0.1% |
Other income | 60 | 45 |
|
General and administrative expenses | (801) | (749) |
|
Profit before interest and tax | 22,508 | 22,529 | -0.1% |
Finance costs (net) | (11,830) | (12,666) |
|
Profit before tax | 10,678 | 9,863 | 8.3% |
Tax expense | (1,610) | (2,617) |
|
Net profit | 9,068 | 7,246 | 25.1% |
The above reported numbers represent initial and unaudited financial results and are subject to audit, and approval and confirmation by the Company’s Audit Committee and Board of Directors.
