Net profits of public joint-stock companies listed on the Muscat Stock Exchange (MSX) climbed to RO 757.2 million in the first half of 2025, up from RO 663.3 million in the same period last year, marking a 14.1-per cent increase, according to preliminary financial results.
The rise reflects stronger economic growth, higher domestic demand, and companies’ efforts to diversify products and expand exports. In total, 76 companies posted profits. OQ Exploration and Production led the market with RO 166 million, followed by Bank Muscat at RO 125.8 million, Sohar International at RO 46.2 million, Omantel at RO 35.1 million and the National Bank of Oman at RO 34 million.
Losses across listed firms edged higher to RO 8.6 million from RO 8 million a year earlier. Seventeen companies reported losses, led by Raysut Cement (RO 2.9 million) and Oman Fisheries (RO 1.1 million).
The financial sector delivered the strongest performance, with net profits rising 25.7 per cent to RO 345.1 million. Banks contributed RO 275.9 million, while insurers returned to profitability, and finance firms lifted earnings to RO 13.1 million.
The utilities sector posted a 46.3-per cent profit surge to RO 73.6 million, supported by Sohar Power and Barka Water and Power shifting from losses to profits. Oil marketing companies also reported improved results, with earnings rising to RO 9.6 million.
Telecommunications, however, recorded weaker results, with sector profits falling to RO 38.7 million from RO 43.8 million. Omantel’s domestic profits dipped to RO 35.1 million, while Ooredoo slid to RO 3.6 million. Still, Omantel Group’s consolidated profit, boosted by its 21.9 per cent stake in Kuwait’s Zain Group, rose sharply to RO 161.1 million from RO 110.2 million.
Industrial companies showed strong recovery, with profits doubling to RO 64.4 million. OQ Basic Industries led with RO 22.7 million, while Oman Cables, Voltamp Energy, Oman Cement and Oman Flour Mills also posted gains. Losses in the sector narrowed to RO 6.2 million, as several firms shifted from red to black.
The solid performance has been reflected in the Muscat Stock Exchange, where share prices, trading volumes and liquidity have risen in recent weeks. - ONA
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