Initial Unaudited Financial Results for the 3 month period ended 31 March 2019
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 2019, and a comparison with the same period of the preceding financial year.
|
| 3 month 2019 RO’000s Unaudited | 3 month 2018 RO’000s Unaudited | Percentage change |
| Revenues | 11,957 | 12,127 | -1.4% |
| Direct costs | (11,325) | (11,445) |
|
| Gross profit | 632 | 682 | -7.3% |
| General and administrative expenses | (228) | (238) |
|
| Profit before interest and tax | 404 | 444 | -9.0% |
| Finance costs (net) | (2,451) | (2,646) |
|
| Loss before tax | (2,047) | (2,202) | 7.0% |
| Tax expense | (439) | (419) |
|
| Net loss for the period | (2,486) | (2,621) | 5.2% |
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.
______________________
Preetam Saraf
Company Secretary
