Date: 13th October 2019
Initial Unaudited Financial Results for the 9 month period ended 30 September 2019
Al Suwadi Power Company SAOG (the “Company”) is pleased to disclose the following initial unaudited financial results for the 9 month period ended 30 September 2019, and a comparison with the same period of the preceding financial year.
| 9 month 2019 RO’000s Unaudited | 9 month 2018 RO’000s Unaudited | Percentage change |
Revenues | 64,121 | 63,058 | 1.7% |
Direct costs | (42,198) | (40,861) |
|
Gross profit | 21,923 | 22,197 | -1.2% |
General and administrative expenses | (548) | (549) |
|
Profit before interest and tax | 21,375 | 21,648 | -1.3% |
Finance costs (net) | (7,466) | (8,040) |
|
Profit before tax | 13,909 | 13,608 | 2.2% |
Tax expense | (1,315) | (2,061) |
|
Net profit for the period | 12,594 | 11,547 | 9.1% |
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