trending Market Intelligence /marketintelligence/en/news-insights/trending/dM-wtnACv-pN5HzWsujggg2 content esgSubNav
In This List

Hotels Management Co. International Q2 profit falls YOY


Street Talk | Episode 105: Banks could see opportunity in fintech's cleansing fire


The Climate Vulnerability Assessment by APRA: Helping Financial Institutions Address Challenges


Lithium Import


Activity Volumes Across the Equity Capital Markets Dropped Significantly in 2022

Hotels Management Co. International Q2 profit falls YOY

Hotels Management Co. International SAOG said its normalized net income for the second quarter was 8 Oman baiza per share, a decrease of 37.2% from 12 baiza per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 229,560 rials, a decline of 37.2% from 365,620 rials in the year-earlier period.

The normalized profit margin dropped to 9.5% from 13.3% in the year-earlier period.

Total revenue declined 12.0% year over year to 2.4 million rials from 2.7 million rials, and total operating expenses decreased 4.9% year over year to 2.1 million rials from 2.2 million rials.

Reported net income declined 37.2% from the prior-year period to 323,220 rials, or 11 baiza per share, from 514,790 rials, or 17 baiza per share.

As of July 22, US$1 was equivalent to 39 Oman baiza.