(MENAFN- Muscat Daily) Oman Oil Marketing Co (OOMC) said its first-quarter 2014 net profit rose 16 per cent to RO2.4mn, from RO2.07mn in the same period of the previous year.
Sales revenue rose nine per cent to RO76.6mn from RO70.3mn a year ago.
The company said sales in its retail business grew in the first quarter, largely due to new filling stations introduced to the retail network towards the end of 2013.
It said that the commercial business unit grew compared with the same period last year. This was achieved by securing new supply contracts.
OOMC's lubricant business unit that includes BP and Castrol products and Omanoil lubricant sales also grew compared with the same period of the previous year.
''Demand in the market continues to increase and the company is continuing its efforts in promoting Oman Oil lubricants outside and inside Oman. Aviation business sales have decreased slightly as a result of low demand from a few airlines at the Muscat International Airport,'' the company said in its filing to the Muscat Securities Market (MSM) on Tuesday.
OOMC said there are currently new filling stations under construction and at various stages of completion. As per the company's plan, a few of these stations will be commissioned in the second and third quarter this year.
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