Initial Unaudited Financial Results for the year ended 31 December 2019.
The Management of Phoenix Power Company SAOG (the “Company”) is pleased to disclose the following initial un-audited financial results for year ended 31 December 2019 and a comparison with the same period of the preceding calendar year.
|
|
2019 |
2018 |
Percentage Change |
|
RO’000 |
RO’000 |
||
|
Unaudited |
audited |
||
|
Operating revenue |
132,958 |
134,593 |
-1.21% |
|
Operating costs |
(96,728) |
(98,700) |
2.00% |
|
Operating profit |
36,230 |
35,893 |
0.94% |
|
General and administrative expenses |
(1,119) |
(1,173) |
4.60% |
|
Finance costs |
(18,037) |
(18,970) |
4.92% |
|
Profit before tax |
17,074 |
15,750 |
8.41% |
|
Tax expense |
(2,561) |
(2,830) |
9.51% |
|
Net Profit |
14,513 |
12,920 |
12.33% |
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.
_________________________
Koichi Matsumoto
Chief Financial Officer / Disclosure Officer