Browse
related articles
Omani mineral water producer incurs losses due to price freeze
- Oman: Monday, November 12 - 2012 at 01:41
Oman-based National Mineral Water Co has said that the decision by the Consumer Protection Authority (CPA) to freeze prices of mineral water since April 2011 has resulted in the company incurring losses for the first nine months of this year, Times of Oman has reported. The net loss of the group for the first nine months of 2012 was RO1.08 million, as against OR1.24m for the same period in the previous year. The net sales of the group for nine months ended September 2012 were OR6.44m, compared with OR6.35m for the same period of previous year. Since all attempts to persuade CPA have failed, the company has decided to seek shareholders' consensus on the way forward, it said. "Increase in cost of operations without corresponding increase in selling price would have an impact on the profitability," the company said.
Related Content
Article Options
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
