Mubasher: The unaudited financial results revealed that Areej Vegetable Oils and Derivatives turned to losses in the third quarter of 2016, according to a bourse filing on Monday.
The company’s losses reached OMR 169,000 ($437,440) in Q3-16 versus OMR 115,000 ($297,660) profits in Q3-15.
Net profits after deducting taxes declined 66.55% to OMR 895,000 in the first nine months of 2016, compared to OMR 2.68 million in the same period of 2015.
Areej’s operating profits fell 24.80% to OMR 1.86 million in the nine-month period of 2016, compared to OMR 2.48 million in the year-ago period.
