Al Suwadi Power Company SAOG (the “Company”) is pleased to disclose the following initial annual unaudited financial results for the year ended 31 December 2018, and a comparison with the preceding year ended 31 December 2017.
|
| Year ended 31 December 2018 RO’000s | Year ended 31 December 2017 RO 000s’ | Percentage change |
| Unaudited | Audited | ||
| Revenues | 76,623 | 73,220 | 4.6>#/b### |
| Direct Costs | (53,597) | (50,668) |
|
| Gross Profit | 23,026 | 22,552 | 2.1>#/b### |
| Other income | 19 | 20 |
|
| General and administrative expenses | (779) | (763) |
|
| Profit before interest and tax | 22,266 | 21,809 | 2.1>#/b### |
| Finance costs (net) | (10,574) | (11,329) | |
| Profit before tax | 11,692 | 10,480 | 11.6>#/b### |
| Tax expense | (2,683) | (4,828) |
|
| Net profit | 9,009 | 5,652 | 59.4>#/b### |
The above reported numbers represent initial and unaudited financial results and are subject to statutory audit and approval and confirmation by the Company’s Audit Committee and Board of Directors.
