trending Market Intelligence /marketintelligence/en/news-insights/trending/xdoOwfOU5vUpOME46Yu7Hg2 content esgSubNav
In This List

Gulf Hotels (Oman) Q2 profit falls YOY


Illuminating the Opaque: How can Significant Risk Transfer underwriting decisions be made with greater conviction?

Case Study

A Law Firm Taps into Extensive Data Solutions to Create a Powerful CRM System


MediaTalk | Season 2
Ep.9 How Consumers Split Their Dollars, Time Among Streaming Services


Banking Essentials Newsletter: 17th April Edition

Gulf Hotels (Oman) Q2 profit falls YOY

Gulf Hotels (Oman) Company Ltd SAOG said its normalized net income for the second quarter amounted to 46 Oman baiza per share, a decrease of 44.4% from 82 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 157,500 rials, a decline of 44.1% from 281,880 rials in the year-earlier period.

The normalized profit margin dropped to 9.0% from 13.4% in the year-earlier period.

Total revenue declined 16.8% on an annual basis to 1.8 million rials from 2.1 million rials, and total operating expenses declined 9.7% from the prior-year period to 1.5 million rials from 1.7 million rials.

Reported net income decreased 46.4% on an annual basis to 210,000 rials, or 61 baiza per share, from 392,000 rials, or 115 baiza per share.

As of July 15, US$1 was equivalent to 385 Oman baiza.