Al Batinah Power Company SAOG (the “Company”) is pleased to disclose the following initial annual unaudited financial results for the year ended 31 December 2015, and a comparison with the preceding year ended 31 December 2014.
|
|
Year ended 31 December 2015 RO Unaudited |
Year ended 31 December 2014 RO Audited |
Percentage change |
|
Revenues |
67,928,175 |
51,872,482 |
31.0% |
|
Direct costs |
(46,085,281) |
(29,853,773) |
|
|
Gross profit |
21,842,894 |
22,018,709 |
-0.8% |
|
Other income |
12,935 |
- |
|
|
General and administrative expenses |
(751,437) |
(1,132,232) |
|
|
Profit before interest and tax |
21,104,392 |
20,886,477 |
1.0% |
|
Finance costs (net) |
(11,690,536) |
(12,329,593) |
|
|
Profit before tax |
9,413,856 |
8,556,884 |
10.0% |
|
Tax expense |
(2,330,249) |
(3,548,818) |
|
|
Net profit |
7,083,607 |
5,008,066 |
41.4% |
The above reported numbers represent initial and unaudited financial results and are subject to approval and confirmation by the Company’s Audit Committee and Board of Directors.
