Salalah Port’s profit falls to OMR5.23m

Port of Salalah

Salalah Port Services has posted an 8.6 per cent fall in net profit at OMR5.23 million for 2017, against OMR5.73 million posted for the previous year.

Total revenue of the port rose by 3.7 per cent to OMR56.91 million from OMR54.87 million, while expenses rose by 5.1 per cent to OMR51.67 million from OMR49.15 million.

The port’s container terminal handled 3.95 million twenty equivalent units (TEUs) in 2017, up by 18.7 per cent over the previous year, while the general cargo terminal handled cargoes worth 13.59 million tonnes in 2017, against 13.04 million tonnes in the previous year, SPS said in a disclosure statement posted on MSM website.

Salalah Port Services said that the total expenses include OMR1,483,000 towards additional deferred tax provision arising out of change in corporate income tax rate from 12 per cent to 15 per cent made effective from 2017 and an incremental current tax (3 per cent) of OMR237,000 on profits for the year ended 2017.

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