Oman Flour Mills earns OMR12m
Salah bin Hilal Al Ma’awali, Chairman of the Board of Directors of the company attributed the increase in
Muscat - Arab today
Oman Flour Mills and its subsidiaries achieved a net profit after taxes for the nine months ended on March 31 amounting to OMR12.145m compared to OMR8.921m during the same period of last year.
Salah bin Hilal Al Ma’awali, Chairman of the Board of Directors of the company attributed the increase in the parent company’s profits due to rise in sales, lower raw material costs and lower grain prices, as well as the Group’s strategies to reduce production costs, increase its efficiency and its policy of buying grains from international markets.
He pointed out that the volume of sales in the current quarter witnessed a rise of 5.9% compared to the same period last year.
Al Ma’awali said that work is under way in the construction phase at Sohar Mills and it is expected to start commercial production by the end of the second quarter of 2018.
Source: Timesofoman
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