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Oman Cables FY net profit declines 68% as virus hits sales

Tuesday 9 February 2021 | 10:25 CET | News
Oman Cables Industry Company has reported a 68 percent decline in its group net profit for the year ended 31 December 2020 to OMR 2.3 million from OMR 7.2 million in the previous year. Lower oil prices and pandemic lockdowns affected every business sector, and the pressure on sales value was felt in every market. The slowdown in the construction industry is affecting the cable market severely, Oman Cables Industry said in its report to the Muscat Securities Market.

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Categories: Fixed
Companies: Prysmian
Countries: Oman
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