MSM-listed firms profit rises to OMR700mn

Muscat: The 2018 results of 105 listed companies on the Muscat Securities Market (MSM) pointed out that they have posted 23 per cent growth in profits in 2018 compared to 2017.
Nearly 78 per cent of the companies that announced their financial results posted more than OMR700 million profits compared to OMR630 million in 2017.
Sector-wise, 89 per cent of the financial sector companies achieved profits in their announced results for 2018 compared to 87 per cent for the service sector companies and 71 per cent for the industry sector companies.
As many as 62 companies achieved growth in their financial results last year including 53 companies that posted growth in profits and 9 companies that managed to reduce their losses.
It should be noted that the initial results disclosure compliance by MSM listed companies now stands at 98 per cent.