Financial Information

Financial Statements

1

Balance Sheet

2019 (OMR)2018 (OMR)2017 (OMR)2016 (OMR)2015 (OMR)
Assets
ASSETS (Non-Current Assets)
Property, Plant and Equipment3,238,3652,514,3822,675,8785,633,6046,130,942
Right-of-use assets268,681----
Available-for-Sale Investments1,849,3931,839,8741,984,296165,000165,000
5,256,4393,454,2564,660,1745,798,6046,295,942
Current assets
Inventories175,850160,107155,5611,073,0471,023,820
Trade and Other Receivables2,475,3451,727,0881,465,1122,959,1462,159,820
Bank Balances and Cash2,538,9382,196,7664,477,794772,132892,622
5,190,1334,083,9616,098,4674,804,3254,076,262
Total Assets10,446,5728,438,21710,758,64110,602,92910,372,204
Equity and Liabilities
Equity
Share Capital3,000,0003,000,0003,000,0003,000,0003,000,000
Statutory Reserve1,000,0001,000,0001,000,0001,000,0001,000,000
General Reserve---198,672198,672
Special Reserve1,457,0671,457,0671,457,0671,457,0671,457,067
Land Revaluation Reserve1,110,8871,110,8871,110,8871,110,8871,110,887
Retained Earnings621,257231,8732,159,0091,473,5711,719,085
Total Equity7,189,2116,799,8278,726,9638,240,1978,485,711
Non-Current Liabilities
Non-Current portion of term loans797,718154,382---
Non-Current portion of lease liabilities250.336----
Employees End of Service Benefits62,26153,230120,644190,438165,354
Deferred Tax Liability195,624199,010194,320201,120213,897
Non current portion of finance lease144,656197,261
1,299,939406,622512,225391,558379,251
Current Liabilities
Trade and Other Payables1,687,9931,098,498836,7871,850,6541,337,402
Tax Payable43,81387,941292,014120,520189,840
Bank overdrafts--350,088--
Current portion of finance lease-55,05540,564--
1.957,4221,241,4941,519,4531,971,1741,507,242
Total Liabilities3,257,3611,638,3902,031,6782,362,7321,886,493
Total Equity and liabilities10,446,5728,438,21710,758,64110,602,92910,327,204
Net Assets Per Share0.2400.2270.2910.2750.283

Income Statement

2019 (OMR)2018 (OMR)2017 (OMR)2016 (OMR)2015 (OMR)
Revenue11,833,2288,669,2459,089,0939,210,7119,414,315
Cost of Sales-10,875,314-7,701,107-7,867,786-7,775,486-7,498,044
Gross Profit958,134968,1381,221,3071,435,2251,916,271
Administrative & General Expenses-631,951-685,676-1,120,504-625,212-588,269
Other Income149,787172,208100,579102,216118,590
Gain On Disposal Of Business Division--1,467,040--
Share of (Loss)/Profit Of An Associate9,519-144,4223,464-588,269
Profit Before Income Tax429,811310,2481,671,886912,2291,446,592
Income Tax Expense-40,427-90,310-285,120-107,743-134,850
Profit For The Year389,384219,9381,386,766804,4861,311,742
Other Comprehensive Income
Revaluation Of Land (Net of Tax)----1,110,887
Total Comprehensive Income For The Year389,384219,9381,386,766804,4862,422,629
Equity and Liabilities
Earnings Per Share0.0130.0070.0460.0270.044

Cashflow Statement

2019 (OMR)2018 (OMR)2017 (OMR)2016 (OMR)2015 (OMR)
Operation Activities
Profit Before Income Tax429,811310,2481,671,886912,2291,446,592
Adjustments For:
Interest Income-77,625-48,773-8,460--271
Dividend Income--1,241-8,767--33,690
Gain On Disposal Of Property, Plant & Equipment (Net)--15,237-10,000-425-4,037
Deprecation Of Property, Plant & Equipment213,730227,929335,198577,640617,727
Deprecation on right-of-use assets28,659----
Share Of Loss (Profit) From Associate-9,519144,422-3,464--
Allowance For Slow-Moving Inventories3,0003,0003,0005,4739,000
Provision Reversed On Slow-Moving Inventories---158,769--
Allowance For Expected Credit Losses-7,14712,05532,650-6,85510,000
Write-Off Of Provision For Doubtful Debts---73,00441,010-3,881
Accrual For Employees' End Of Service Benefits 9,142 15,08533,70227,30842,815
Operating Profit Before Working Capital Adjusments649,876670,5951,813,9721,556,3802,084,255
Working Capital Changes:
Inventories-18,743-7,5461,073,255-54,700161,443
Trade & Other Receivables-750,425-262,0261,534,388-1,483,481762,014
Trade & Other Payables589,495261,723-1,013,867513,252-124,955
Cash Flows From Operations470,203672,7463,407,748531,5412,882,757
Employees' End Of Service Benefits Paid-6,111-82,499-103,496-2,224-64,743
Income Tax Paid-87,941-289,692-120,426-169,840-156,813
Net Cash Flows From Operating Activities376,151300,5553,183,826359,3872,661,201
Investing Activities
Proceeds On Property, Plant & Equipment Relating To The Disposal Of Business Division--3,391,8363,52216,622
Purchase Of Property, Plant & Equipment-837,713-69,316-531,483-83,399-318,363
Movement In Term Deposit---650,000-650,000
Proceeds On Sale Of Investments In Available For Sale--165,000--
Investment In An Associate---1,980,832--
Interest Received77,62548,7738,460-271
Dividend Received-1,2418,767-33,690
Proceeds On Disposal Of Property, Plant and Equipment-18,03710,000--
Net Cash Flow (Used In) From Investing Activities-1,265-760,0881,071,748570,123-917,780
Financing Activities
Repayment Of Finance Lease800,714-38,114---
Dividends Paid--2,159,009-900,000-1,050,000-1,200,000
(Decrease) Increase In Cash & Cash Equivalent342,172-1,930,9403,355,574-120,490543,421
Cash & Cash Equivalents At 1 January2,196,7664,127,706772,132892,622329,201
Cash & Cash Equivalents At 31 December2,538,9382,196,7664,127,706772,132892,622
Non-Cash Financing & Investing Activities
Acqusition Of Property, Plant & Equipment Through Finance Lease Arrangement--237,825--

Changes in Equity

Share capital (OMR)Statutory reserve(OMR)General reaserve(OMR)Special reserve(OMR)Land Revalution reserve(OMR)Retaind earnings(OMR)
At 1 January 20153,000,0001,000,000198,6721,457,067-1,607,343
Profit for the year----1,110,887-
Other comprehensive income----1,110,8871,311,742
Total comprehensive income685,6761,120,504625,212588,269625,212588,269
Dividend paid for the year 2014------1,200,000
At 31 December 20153,000,0001,000,000198,6721,457,0671,110,8871,719,085
Profit for the year-----804,486
Total comprehensive income-----804,486
Dividend paid for the year 2015------1,050,000
At 31 December 20163,000,0001,000,000198,6721,457,0671,110,8871,473,571
At 1 January 20173,000,0001,000,000198,6721,457,0671,110,8871,473,571
Profit and comperhensuve income for the year-----1,386,766
Dividend paid for the year 2016------900,000
Transfer to retained earning---198,672--198,672
At 31 December 20173,000,0001,000,000-1,457,0671,110,8872,159,009
Transition adjusment on initial application of IFRS 9 (note 2.1)-----11,935
At 31 December 2017 (Restated)3,000,0001,000,000-1,457,0671,110,8872,170,944
Profit and comprehensive income for the year-----219,938
Dividend paid for the year 2017------2,159,009
At 31 December 20183,000,0001,000,000-1,457,0671,110,887231,873
At 1 January 20193,000,0001,000,000-1,457,0671,110,887231,873
Profit and comprehensive income for the year-----389,384
At 31 December 20193,000,0001,000,000-1,457,0671,110,887621257
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