Omani mineral water producer incurs losses due to price freeze
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Omani mineral water producer incurs losses due to price freeze

Omani mineral water producer incurs losses due to price freeze

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.

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