Renaissance Services SAOG has declared its interim results for the nine months period ending 30 September 2013. The company has recorded Net Profit of RO 17.2 million (USD 44.7 million) on Revenues of RO 208.7 million (USD 542.1 million). Financial Performance:
Rial Million
USD Million
Q3, 2013
Q3, 2012
Q3, 2013
Q3, 2012
Continuing Operations
Revenue
208.7
189.2
542.1
491.4
EBITDA
56.4
53.2
146.5
138.2
Operating Profit
35.1
33.0
91.2
85.7
Net Profit after tax from continuing operations
12.5
12.4
32.5
32.2
Discontinued operations
Profit/loss from discontinued operations
4.7
(4.3)
12.2
(11.2)
Net profit
17.2
8.1
44.7
21.0
Note: 1. Discontinued operations are Oil & Gas Engineering Operations of the Company. This business unit has been divested; Q3 2013 profit from discontinued operation includes gain of Rial 3.9 million on divestment.
2. Q3 2013 EBITDA and Operating profit from continuing operations are after one-off receivables provision of Rial 4.3 million.
The full Financial Statements and Chairman’s Statement may be accessed on Muscat Securities Market website, as well as the company’s website: http://www.renaissanceoman.com/