Saturday 25 / July / 2026
Muscat: The net profits of industrial companies listed on the Muscat Stock Exchange (MSX) rose in the first half of this year to OMR175.3 million Omani riyals compared to OMR119.4 million in the same period last year, registering a growth of 46.8 percent.
This rise reflects the improvement in the local economic environment, supported by government spending, increased consumer confidence, increased demand for Omani industrial products, and lower financing costs. It was also aided by the efforts made by companies to raise operational efficiency, increase exports and work to raise quality levels through many marketing plans and programs and enhance competitiveness in the face of external competition.
Preliminary financial results indicated increased profits for several industrial companies. Oman India Fertiliser Company (Omifco) recorded a significant jump in net profit, which climbed to OMR80.2 million in the first half of this year, compared to OMR54.1 million in the same period last year. OQ Basic Industries saw its net profit rise from OMR23.4 million to OMR43.3 million.
Oman Cables Industry Company recorded a slight increase in net profit, rising from OMR11.3 million to OMR11.4 million. Voltamp Energy Company's net profit increased from OMR6.8 million to over OMR7 million. Oman Flour Mills Company's profits jumped from OMR4.3 million to approximately OMR6.9 million. Cement companies also achieved positive results, benefiting from increased demand for their products and a rise in real estate investment.
Oman Cement Company's profits increased from OMR4.7 million to OMR6.9 million. Raysut Cement Company achieved net profits of OMR2.7 million, compared to losses of OMR2.5 million in the first half of last year. Many other industrial companies also recorded good performance and an increase in net profits.
Galfar Engineering and Contracting’s net profits rose from OMR71,000 to OMR2.5 million. Dhofar Food and Investment net profits rose from OMR332,000 to OMR2.2 million and Gulf Mushroom Production’s net profits rose from OMR1.1 million to more than OMR1.6 million.
The first half of this year also saw two companies turn from losses to profits these include Raysut Cement and Building Materials Industry Company. Three companies turned from profits to losses. These include Oman Chlorine, National Industrial Detergents, and Salalah Mills.
The number of industrial companies that announced their preliminary financial results for the first half of this year reached 28 companies, including 21 companies that recorded profits and eight companies that recorded losses. The preliminary financial results indicated a decline in the losses of industrial companies in the first half of this year to OMR3.1 million, compared to losses of OMR5.2 million in the same period last year.
The Omani Fisheries Company recorded the highest losses at more than OMR1 million followed by the National Mineral Water Company in second place with losses amounting to OMR616,000 and Oman Chlorine in third place with losses amounting to OMR397,000.
The financial results achieved by the industrial companies listed on the Muscat Stock Exchange were reflected in the industrial sector index, which closed at the end of trading last June at 9,756 points, recording an increase of 1910 points.
The number of industrial companies listed on the Muscat Stock Exchange is 36, including 5 companies under liquidation. The first half of this year witnessed the transformation of Majan Glass Company from a public shareholding company to a single-person company after its acquisition by Al Zumurud National Company.
