MUSCAT: Net profits of industrial companies listed on the Muscat Stock Exchange surged 46.8 per cent in the first half of 2026, supported by stronger earnings from fertiliser, petrochemical, food and cement producers.
Preliminary financial results showed the sector’s combined net profit rising to about RO 175.30 million from RO 119.40 million in the same period last year.
The performance reflected higher demand for locally manufactured products, increased exports, lower financing costs and efforts by companies to improve operating efficiency and product quality.
Oman India Fertiliser recorded the largest profit among the industrial companies, with net earnings rising to RO 80.20 million from RO 54.10 million a year earlier.
OQ Base Industries’ net profit climbed to RO 43.30 million from RO 23.40 million, making it another major contributor to the sector’s overall earnings growth.
Oman Cables Industry reported a marginal increase in net profit to RO 11.40 million from RO 11.30 million, while Voltamp Energy’s earnings rose to more than RO 7.00 million from RO 6.80 million.
Oman Flour Mills posted a sharper increase, with net profit reaching about RO 6.90 million, compared with RO 4.30 million in the first half of 2025.
Cement producers also benefited from stronger demand linked to construction and real estate activity.
Oman Cement’s net profit rose to approximately RO 6.90 million from RO 4.70 million. Raysut Cement returned to profitability, reporting earnings of RO 2.70 million compared with a loss of RO 2.50 million a year earlier.
Galfar Engineering and Contracting recorded one of the strongest percentage increases, with net profit jumping to RO 2.50 million from RO 71,000.
Dhofar Food and Investment’s profit rose to about RO 2.20 million from RO 332,000, while Gulf Mushroom Products increased its net earnings to more than RO 1.60 million from RO 1.10 million.
Raysut Cement and Building Materials Industries were among the companies that moved from losses to profits during the six-month period.
Oman Chlorine, National Detergent and Salalah Mills shifted from profits to losses. Salalah Mills reported a group loss of RO 255,000, although its parent company recorded a net profit of RO 1.20 million.
Industrial companies reporting losses reduced their combined deficit to RO 3.10 million from RO 5.20 million in the first half of last year.
Oman Fisheries posted the sector’s largest loss at more than RO 1.00 million, followed by National Mineral Water with a loss of RO 616,000 and Oman Chlorine with RO 397,000.
The stronger overall earnings performance helped lift the MSX industrial sector index, which ended June at 9,756 points, up 1,910 points from the start of the year.
The exchange has 36 listed industrial companies, including five undergoing liquidation. Majan Glass was converted from a public joint-stock company into a single-person company during the first half following its acquisition by Emerald National. — ONA
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