Musika's H1 profit drops to 10.6M
Muscat Investment Company achieved weak financial results in the first half of 2026, with net profits declining by 52.74% to reach 10.6 million riyals, primarily due to changes in profit margins across operational sectors. Revenues decreased by 4.09% to 55.31 million riyals, resulting from a decline in residential unit sales, which now represent 26% of profits compared to 100% last year. Meanwhile, revenues from the contracting and development sector increased, accounting for 74% of the total. Earnings per share fell to 0.11 riyals, while shareholders' equity grew by 19.03% to reach 145.73 million riyals. The external auditor confirmed the financial statements' accuracy and stated there were no reservations.
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