Mubasher: Oman Investment and Finance Company (OIFC) on Thursday announced appointing Nasser Mohammed Al Harthy as chairman after the resignation of Ahmed Hamed Al Subhi.
The Muscat-listed company’s profits decreased 14.9% in the first quarter of 2017, compared to the year-ago period.
OIFC achieved a net profit of OMR 1.31 million ($3.4 million) in Q1-17, compared to OMR 1.54 million ($3.99 million) in Q1-16.
Total revenues tumbled 2.52% to reach OMR 4.37 million in Q1-17, compared to OMR 4.49 million in the corresponding period in the year earlier.
The Omani company had previously reported that it turned to profits worth OMR 2.73 million in 2016, against losses of OMR 3.57 million in 2015.
