Gulf Mushroom Product’s H1 net profit declines 24%
Gulf Mushroom Product Co reported a 24 per cent decline in net profit for the six months period ended June 30, 2017. Its net profit fell to RO147,000 for the first half of 2017 against RO194,000 in the same period of last year, according to a company filing to the Muscat Securities Market.
Gulf Mushroom Product Co’s production rose by six per cent as it produced 2,007 metric tons of fresh mushrooms during the first half of this year compared to 1,896 metric tons for the same period of last year. Total sales during the six months period this year rose by five per cent to RO3.22mn from RO3.08mn a year ago.