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Initial un-audited financial results for year ended 30-06-2015

Initial un-audited financial results for year ended 30-06-2015
Oman Flour Mills
OFMI
0.00% 0.47 0.00
  The management of OFM is pleased to disclose the Group and Parent company un-audited initial financial results for the year ended 30 June 2015 as follows:  
    Group Parent Company  
    2015 2014 2015 2014  
    (Un-Audited) (Audited) (Un-Audited) (Audited)
    RO '000 RO '000 RO '000 RO '000
           
  Revenue            82,194         79,268            70,424         70,563
  Gross profit            17,004         14,222            11,097         10,874
  Net profit after tax              7,861           6,803              7,199           7,791
  Net profit for the period              8,112           7,017              7,199           7,791
           
  Net profit margin 9.87% 8.85% 10.22% 11.04%
           
  1.  In these financial statements the wheat and feed subsidy have been accounted on accrual basis and in accordance with the methodology received from the Ministry.  
  2. The Independent auditors appointed by the Ministry of Finance have completed their verification of wheat subsidy until September-2013 and in respect of feed subsidy upto June-2015 and have submitted their report to the Ministry.   
  80% Subsidy on feed for the quarter Jan/Mar-15 has been paid and on wheat upto upto June-2013          
  3. Current year tax expenses are estimated.  
  4.  The above results represent initial un-audited financial results and are subject to review by the Audit Committee and approval by the Board of Directors.  
  5. Previous year audited figures are re-classified to conform to the changes in presentation in the current year where ever necessary.  
  6. We will present the full financials upon their approval in due course.