trending Market Intelligence /marketintelligence/en/news-insights/trending/3_OUBHpGB8JGmcaljrfUOA2 content esgSubNav
In This List

Hotels Management Co. International Q3 loss narrows YOY

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Podcast

Next in Tech | Episode 65: The operations side of AI/ML


Hotels Management Co. International Q3 loss narrows YOY

Hotels Management Co. International SAOG said its third-quarter normalized net income came to a loss of 6 Oman baiza per share, compared with a loss of 9 baiza per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 186,600 rials, compared with a loss of 262,930 rials in the year-earlier period.

The normalized profit margin rose to negative 12.8% from negative 19.6% in the year-earlier period.

Total revenue rose 8.8% on an annual basis to 1.5 million rials from 1.3 million rials, and total operating expenses totaled 1.8 million rials, compared with 1.8 million rials in the prior-year period.

Reported net income came to a loss of 262,730 rials, or a loss of 9 baiza per share, compared to a loss of 370,210 rials, or a loss of 12 baiza per share, in the prior-year period.

As of Oct. 24, US$1 was equivalent to 39 Oman baiza.