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 2018, and a comparison with the same period of the preceding financial year.
| 3 month 2018 RO’000s Unaudited | 3 month 2017 RO’000s Unaudited | Percentage change |
Revenues | 12,127 | 10,509 | 15.4% |
Direct costs | (11,445) | (9,870) |
|
Gross profit | 682 | 639 | 6.7% |
General and administrative expenses | (238) | (229) |
|
Profit before interest and tax | 444 | 410 | 8.3% |
Finance costs (net) | (2,646) | (2,741) |
|
Loss before tax | (2,202) | (2,331) | 5.5% |
Tax expense | (419) | (3,397) |
|
Net loss for the period | (2,621) | (5,728) | 54.2% |
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.
