Port Services posts robust profit of OMR1.83 million

Muscat: Port Services Corporation, which manages the Sultan Qaboos Port in Muscat, said that the company has achieved a net profit of OMR1.83 million for the first nine months of 2016, against a loss of OMR2.16 million for the same period of last year.
Total revenue surged ahead by 33.7 per cent to OMR5.07 million for January-September period, against OMR3.79 million for the same period of last year, the company said in a disclosure statement posted on MSM website.
Total expenses also declined by 45.5 per cent to OMR3.24 million, against OMR5.95 million for the nine month period of 2015. The financial results are initial unaudited and are subject to the approval of the board and audit committee.