The Management of Phoenix Power Company SAOG is pleased to announce the initial unaudited financial results for the 6-month period ended 30 June 2015. The Management of Phoenix Power Company SAOG (the “Company”) is pleased to
disclose the following initial un-audited financial results for the 6-month period ended 30 June 2015 and a comparison with the same period of the preceding calendar year.
| June 2015 RO’000 Unaudited |
June 2014 RO’000 Unaudited |
Percentage Change |
|
| Revenues | 52,197 | - | 100% |
| Direct costs | (33,211) | - | (100)% |
| Gross profit | 18,986 | - | 100% |
| General and administrative expenses |
(941) | (75) | (1155)% |
| Finance costs | (11,655) | - | (100)% |
| Profit (Loss) before tax | 6,390 | (75) | 8620% |
| Tax expense | (3,200) | - | (100)% |
| Net Profit (loss) | 3,190 | (75) | 4353% |
The above reported numbers represent initial unaudited financial results and are subject to approval and confirmation by the Company’s Audit Committee and Board of Directors.
* Important note: for purposes of comparison, the Company advises that it started its operations in December 2014, therefore it has no operational revenue or cost for the same period in year 2014.