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Investor Relations
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FinancialNews
15-03-17
Oman's Galfar Engineering losses grow to OMR10.8mn
(MENAFN) Galfar Engineering & Contracting Co. proclaimed that the group's losses have been revised to OMR10.82mn for last year.
In addition, this was after adjusting an extra impairment of receivables of OMR4.5mn and investment of OMR2mn for another firm in India.
Moreover, this was assessed by the auditors in line with IFRS provisions, according to a disclosure statement posted on MSM website.
The firm's whole profit reached OMR340.88mn in 2016, against OMR345.23mn in the previous year and the consolidated expenses reached OMR339.91mn in 2016.
MENAFN1503201700450000ID1095314679
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