Initial Unaudited Financial Results for the Financial Year ended 31 December 2023.
The Management of Phoenix Power Company SAOG (the “Company”) is pleased to disclose the following initial un-audited financial results for the Financial year ended 31 December 2023 and a comparison with the preceding year.
|
|
2023 |
2022 |
Percentage Change |
|
RO’000 |
RO’000 |
||
|
Unaudited |
Audited |
|
|
|
Operating revenue |
158,491 |
149,159 |
6.26% |
|
Operating costs |
(119,508) |
(111,202) |
-7.47% |
|
Operating profit |
38,983 |
37,957 |
2.70% |
|
General and administrative expenses |
(1,468) |
(1,256) |
-16.88% |
|
Finance costs |
(11,719) |
(13,274) |
11.71% |
|
Profit before tax |
25,796 |
23,427 |
10.11% |
|
Tax expense |
(3,875) |
(3,065) |
-26.43% |
|
Net Profit |
21,921 |
20,362 |
7.66% |
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.
_________________________
Ahmed Al Abri
Chief Financial Officer / Disclosure Officer