Industrial Companies on Muscat Stock Exchange Post 46.8% Profit Growth in H1 2026

Muscat:  Industrial companies listed on the Muscat Stock Exchange (MSX) reported a strong improvement in financial performance during the first half of 2026, with combined net profits rising to RO 175.3 million, compared to RO 119.4 million during the corresponding period of 2025, representing an increase of 46.8 percent.

The growth reflects improving domestic economic conditions, supported by government spending, stronger consumer confidence, increased demand for Omani industrial products and lower financing costs. It also highlights the efforts of listed companies to enhance operational efficiency, expand exports, improve product quality and strengthen competitiveness in regional and international markets.

Preliminary financial results showed significant profit growth across several major industrial companies.

Oman India Fertiliser Company (OMIFCO) recorded the highest increase, with net profit rising to RO 80.2 million, compared to RO 54.1 million in the first half of 2025.

OQ Basic Industries reported net profit of RO 43.3 million, up from RO 23.4 million a year earlier.

Oman Cables Industry increased its net profit to RO 11.4 million, compared to RO 11.3 million, while Voltamp Energy posted net profit of more than RO 7 million, up from RO 6.8 million.

Oman Flour Mills recorded a strong improvement in earnings, with net profit rising from RO 4.3 million to approximately RO 6.9 million.

Cement producers also benefited from higher demand and increased real estate investment. Oman Cement Company reported net profit of approximately RO 6.7 million, compared to RO 4.7 million during the same period last year.

Raysut Cement Company returned to profitability, posting net profit of RO 2.7 million, compared to a net loss of RO 2.5 million in the first half of 2025.

Other companies also delivered improved financial performance. Galfar Engineering and Contracting increased its net profit from RO 71,000 to RO 2.5 million, while Dhofar Foods and Investment recorded net profit of about RO 2.2 million, compared to RO 332,000. Gulf Mushroom Products also improved its earnings, with net profit exceeding RO 1.6 million, up from RO 1.1 million.

During the first half of 2026, Raysut Cement and Building Materials Industries Company returned to profitability after recording losses in the corresponding period last year.

Meanwhile, Oman Chlorine, National Detergent Company, and Salalah Mills moved from profit to loss. Salalah Mills reported a group net loss of RO 255,000, while its parent company recorded net profit of RO 1.2 million.

A total of 28 industrial companies announced preliminary financial results for the first half of 2026. Of these, 21 companies reported profits, while eight companies recorded losses.

Total losses among loss-making industrial companies declined to RO 3.1 million, compared to RO 5.2 million during the same period of 2025.

Oman Fisheries Company recorded the largest loss, exceeding RO 1 million, followed by National Mineral Water Company with losses of RO 616,000, and Oman Chlorine with losses of RO 397,000.

The improved financial performance supported the MSX Industrial Index, which closed at 9,756 points at the end of June 2026, gaining 1,910 points over the period.

The Muscat Stock Exchange currently lists 36 industrial companies, including five companies under liquidation. During the first half of 2026, Majan Glass Company was converted from a public joint-stock company into a single-shareholder company following its acquisition by Al Zumurud National Company.