Cairo – Mubasher: Oman National Engineering and Investment (ONEIC) posted higher profits in the second quarter of the fiscal year 2016, according to a bourse filing.

Its earnings grew 87.4% year-over-year to OMR 131,421 ($340,196) from OMR 70,138 ($181,559).

On a six-month basis, the company earned OMR 430,581 ($1.114 million), down 34.11% from OMR 653,448 ($1.7 million) registered in the year-ago period.

In the first quarter of 2016, the company gained OMR 299,160 ($777,000) compared with OMR 583,310 ($1.5 million) in the first quarter of 2015.