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Oman Investments’ net profit falls 15%

Oman Investments and Finance Co (OIFC) has said its net income for the year ending March 31, 2011 fell 14.7% following an increase in expenses and a drop in investment returns, Muscat Daily has reported. Annual profits dropped from OR3.3m in 2010 to RO2.8m in 2011, with annual expenses rising 6.9% to OR5.8m. OIFC chairman Mohamed al Khonji said the company's investment portfolio will perform better as the unrest in the Middle East begins to subside. "As there was more stability in the region, the company's portfolio investments are likely to show improved performance," he said.