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PSC FINANCIALS
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Statement of
Income and Statement of Earnings and Dividend per share for
the year ended 31
December 2008
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STATEMENT
OF INCOME
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2008
RO
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2007
RO
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INCOME
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Revenue
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25,786,734
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20,877,732
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Other income
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232,440
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171,540
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26,019,174
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21,049,272
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EXPENSES
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Salaries and employee related costs
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(7,388,244)
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(6,352,527)
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Operating costs
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(2,615,912)
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(2,586,184)
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General and administration
expenses
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(1,161,919)
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(853,623)
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Depreciation
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(853,978)
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(785,714)
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Directors'
remuneration
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(164,500)
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(170,000)
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(12,184,553)
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(10,748,048)
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Profit from
operations
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13,834,621
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10,301,224
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Net investment income
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1,878,329
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2,667,971
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Impairment of available for sale investments
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`(761,061)
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-
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Profit before
franchise fees and tax
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14,951,889
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12,969,195
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Franchise
fees
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(6,167,463)
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(5,542,953)
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Profit before tax
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8,784,426
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7,426,242
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Income tax
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- Current
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(1,062,411)
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(662,126)
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- Prior years
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6,368
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(10,019)
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(1,056,043)
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(672,145)
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Net profit for
the year
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7,728,383
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6,754,097
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Statement of basic and
diluted earnings and dividend per share
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Basic and diluted earnings
per share (Rials Omani)
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0.081
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0.071
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Proposed cash dividend per share (Rials Omani)
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0.050
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0.300
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Proposed
stock dividend per share (Rials Omani)
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-
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0.020
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Balance sheet at 31 December 2008
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2008
RO
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2007
RO
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ASSETS
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Non-current assets
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Property, plant and equipment
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9,956,066
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8,587,195
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Intangible asset
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993
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2,242
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Investment
properties
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750,000
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800,000
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Investments available for sale
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13,770,622
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21,249,711
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Held to maturity investments
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-
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1,987,450
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Employee loans
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10,664
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12,910
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Total non-current
assets
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24,488,345
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32,639,436
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Current assets
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Investments
at fair value through profit or loss
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1,588,700
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2,649,469
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Inventories
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359,666
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272,352
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Trade and other receivables
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2,616,958
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1,598,101
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Cash and cash equivalents
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15,017,891
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10,906,272
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19,583,215
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15,426,194
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Assets classified as held for sale
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578
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72
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Total current
assets
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19,583,793
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15,426,266
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Total assets
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44,072,138
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48,065,702
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EQUITY AND LIABILITIES
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Capital and reserves
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Share capital
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9,504,000
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7,920,000
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Legal reserve
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3,168,000
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2,640,000
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General reserve
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2,500,000
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2,500,000
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Retained earnings
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14,779,470
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11,539,087
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Fair value
reserve
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1,235,690
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12,039,208
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Total equity
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31,187,160
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36,638,295
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Non-current liabilities
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Employee end of
service benefits
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1,042,954
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923,985
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Deferred tax liability
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561,695
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513,358
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Total non-current
liabilities
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1,604,649
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1,437,343
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Current liabilities
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Trade and other payables
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10,266,255
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9,298,014
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Current taxation
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1,014,074
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|
692,050
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Total current liabilities
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11,280,329
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9,990,064
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Total liabilities
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12,884,978
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11,427,407
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Total equity and liabilities
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44,072,138
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48,065,702
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Net assets per
share
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0.328
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0.463
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