Business


Al Anwar net profit rises 28%



Muscat: Al Anwar Holding said its net profit surged ahead by 28 per cent to OMR1.59 million for the first quarter ending June, 2014.

The investment company's total income also rose 26 per cent to OMR2.36 million from OMR1.88 million, while total expenses showed a growth of 19 per cent to OMR696,000.

It's earnings per share (on annualised basis) stood higher at 39 baisas, against 29 baisas .

Al Anwar said its potential sale of its entire 33.63 per cent stake will generate a sale proceeds of OMR13.8 million and the same will be utilised for repayment of term loans as well for new investment opportunities to be approved by the board.

The transaction will generate a profit of OMR0.269 million in the consolidated group financials of the company. The preliminary financials are subject to review and recommendation by the audit committee and final approval of the board of directors.

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