Oman Flour Mills
OFMI
OFMI
| 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. | ||||||
Source:
Muscat Exchange News
