(MENAFN- Muscat Daily) Shell Oman Marketing Co has reported a net profit of RO10.02mn for the nine months ended September 30, 2013, against RO9.58mn recorded for the same period of last year, registering an increase of 4.6 per cent.
Third-quarter net profit of the company jumped 31.3 per cent to RO 3.97mn from RO3.03mn posted in the second quarter of 2013. Revenue for the first nine months of 2013 came in at RO317.86mn, increasing 5.6 per cent from RO300.95mn in the corresponding period of the previous year.
On a quarterly basis, the company's total revenues inched up 2.9 per cent to RO108.99mn in the third quarter of this year, against RO105.87mn reported in the previous quarter.
Al Maha Financial Services, in a note, said the net profit margin of Shell Oman Marketing improved on a quarterly basis from 2.86 per cent recorded in Q2'13 to 3.65 per cent for the third quarter of 2013.
''The company has posted impressive profits on a sequential basis, well above the estimates. However, for the nine-month period of 2013, the net profit margin remained almost flat at 3.15 per cent as compared to 3.18 per cent for the same period last year.''
The stock currently trades at an annualised PE ratio of 16.6, which is at a discount to its quarterly historic average PE of 18.2, the note added.
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