Shell Oman net profit up 3.9% in 2009  

(MENAFN - Times of Oman) In spite of a prevailing global slowdown, Shell Oman Marketing's net profit rose by 3.9 per cent in 2009 to RO13 million, compared to RO12.5 million in 2008. Gross profit margin improved to 10.96 per cent in FY09, from 9.28 per cent in FY08, the company said in a press release.

The company has proposed a dividend of 120 baisa per share on 2009 profits.

Shell led the charts in the industry on other key parameters of financial performance also. Return on capital employed stood at 47.2 per cent while total shareholders returns were 20.7 per cent. What makes this performance more commendable is that in spite of the global economic slowdown, the EPS has gone up to 130 baisa, from 125 baisa in 2008, with the company's focus on three business areas — network development, operational excellence and marketing, it said.

"The results are a true reflection of the robustness and operational efficiency of Shell Oman, in keeping with our commitment to all our stakeholders. Our focus on streamlining our operations, along with cost reduction initiatives, enabled us to sustain momentum and grow in spite of the challenging market conditions in 2009."

"We provide a level of service designed to ensure that the company is the supplier of first choice in all business segments. Of course, none of this is possible without the high focus on selection and development of talent and their effective motivation and retention," said Faisal Al Hashar, managing director, Shell Oman.

Al Hashar added, "The Company's robust performance of 2009 was the outcome of teamwork and dedication, backed by prudent planning and processes. We sell reliability to our customers. We offer the best overall value through delivering a reliable source of supply."