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MENAFN - Muscat Daily - 21/10/2012

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(MENAFN - Muscat Daily) Galfar Engineering and Contracting Company has announced that its net profit for the nine-month period ended September 30, 2012 rose by 20.3 per cent to RO4mn from RO3.3mn in the corresponding period of last year, according to company's filing to the Muscat Securities Market (MSM) on Thursday.The company's contract and other income marginally decreased by 1.2 per cent to RO237.5mn during the nine month period as compared to RO240.4mn a year ago.Total expenses declined by 1.7 per cent to RO232.4mn from RO236.5mn in the first nine months of last year.The company also announced that it has been awarded a RO9.4mn contract by Public Authority for Electricity and Water (PAEW) for the first phase of the construction of water network project in Wilayat of Rustaq in South Batinah.The completion period of the project is 24 months in addition to 60 days for mobilisation.''We expect a reasonable income from this project,'' the company said in its disclosure to MSM.

 






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