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Sun 14 Nov 2010 11:30 AM

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Galfar's 9-month net drops 65% to OR3.43m

Construction company's revenue dropped to OR268.8m ($697.87m) for the period from OR325m

Galfar's 9-month net drops 65% to OR3.43m
(Getty Images)

Galfar Engineering &
Contracting, an Omani construction company, said nine-month profit
declined to OR3.43m from OR9.72m in the
year-earlier period.

Revenue dropped
to OR268.8m for the period from OR325m, according
to a company statement to the Muscat bourse.

The company said a venture with
Larsen & Toubro Ltd won a contract valued at OR294.1m ($764m).

The contract is
for the development of the Salalah international airport, Galfar said
in a statement on the Muscat bourse. The completion period is 30
months, it said.

 

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