(MENAFN- Muscat Daily) Oman Oil Marketing Company (OOMC) has received a letter of intent (LoI) from Oman Air for an aviation fuel supply contract worth RO83mn, according to OOMC's filing to Muscat Securities Market (MSM) on Sunday.
The company said that the contract is for two years, starting from April 1, 2014, with an amount of RO83mn. ''This contract will enhance the performance and the growth of our aviation business,'' OOMC said in its filing to MSM.
OOMC recently reported its highest ever net profit of RO10.2mn for 2013, a growth of 13 per cent compared to net profit of RO9mn in the previous year. The company's sales increased by six per cent to RO296.2mn, from RO278.5mn in 2012.
''The aviation section faced a difficult market environment in 2013 with the continuing low volume sales due to discontinuation of supply contracts from its key customers in the earlier contract period. Despite this, OOMC continues to build its business portfolio by securing more customers,'' OOMC said in the report submitted to MSM.
OOMC said that with more than 30 aviation clients, it currently handles over 12,000 aircraft refuellings per year.
''The company is optimistic about the future, especially for 2014. The plans announced by the government, as well as plans to focus, on infrastructure spending will help scale the country to new heights. This will ensure the demand for fuel, especially diesel in the commercial sector, will be sustained,'' OOMC said.&nbs
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