24 January 2012
MUSCAT -- Port Services Corporation (PSC), which operates and manages Muscat's Port Sultan Qaboos, reported a 19.2 per cent decline in net profit for the year ended December 31, 2011.
Net earnings slumped to RO 4.452 million in unaudited initial financial results for the year, as compared to RO 5.507 million for the previous year. Operating profit for 2011 was also 14.3 per cent lower at RO 7.165 million, from the previous year's figure of RO 8.363 million.
Total operating revenue was marginally higher in 2011 at RO 19.326 million compared with RO 19.140 million for the previous year. Total operating costs jumped 12.8 per cent to RO 12.161 million in 2011 from RO 10.776 million in 2010. A franchise fee of RO 3.177 million is payable for 2011, which is 25.2 per cent lower than the previous year's figure of RO 4.244 million.
MUSCAT -- Port Services Corporation (PSC), which operates and manages Muscat's Port Sultan Qaboos, reported a 19.2 per cent decline in net profit for the year ended December 31, 2011.
Net earnings slumped to RO 4.452 million in unaudited initial financial results for the year, as compared to RO 5.507 million for the previous year. Operating profit for 2011 was also 14.3 per cent lower at RO 7.165 million, from the previous year's figure of RO 8.363 million.
Total operating revenue was marginally higher in 2011 at RO 19.326 million compared with RO 19.140 million for the previous year. Total operating costs jumped 12.8 per cent to RO 12.161 million in 2011 from RO 10.776 million in 2010. A franchise fee of RO 3.177 million is payable for 2011, which is 25.2 per cent lower than the previous year's figure of RO 4.244 million.
© Oman Daily Observer 2012
