The Management of Phoenix Power Company SAOG is pleased to announce the initial unaudited financial results for the 9-month period ended 30 September 2015.
The Management of Phoenix Power Company SAOG is pleased to disclose the following initial un-audited financial results for the 9-month period ended 30 September 2015 and a comparison with the same period of the preceding calendar year.
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September 2015 RO’000 Unaudited |
September 2014 RO’000 Unaudited |
Percentage Change |
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Revenues |
89,835 |
- |
100% |
|
Direct costs |
-52,207 |
- |
-100% |
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Gross profit |
37,628 |
- |
100% |
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General and administrative expenses |
-1,601 |
-112 |
-1329% |
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Finance costs |
-17,319 |
- |
-100% |
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Profit (Loss) before tax |
18,708 |
-112 |
16804% |
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Tax expense |
-4,800 |
- |
-100% |
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Net Profit (loss) |
13,908 |
-112 |
12518% |
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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.