Musca's H1 Profits Drop to 10.6M Riyals
Muscat Investment Company's financial results for the first half of 2026 showed a 52.7% decline in net profits, reaching 10.6 million riyals compared to 22.4 million riyals in the same period of the previous year. This decrease is attributed to changes in profit margins, as the contribution of the contracting and development sector—with lower profit margins—increased to generate 74% of the company's total revenue, up from 0% last year. Meanwhile, revenue from residential unit sales declined to 26% of the total. Despite the drop in profits, shareholders’ equity rose by 19% to reach 145.7 million riyals. The company confirmed the accuracy of its financial statements after audit, with no changes in the value of investment properties.
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