MSX: Profits of Oman’s Listed Companies Rise 26% to RO 1.2 Billion in H1 2026

MSX: Oman Listed Companies’ Profits Rise 26% to RO 1.2 Billion in H1 2026

Muscat: Net profits of public shareholding companies listed on the Muscat Stock Exchange rose by 26 percent during the first half of 2026 to approximately RO 1.2 billion, compared to RO 949.8 million during the corresponding period of 2025.

The preliminary financial results showed that listed companies benefited from improved operational efficiency, cost control, diversification of products and services and higher productivity.

The companies also benefited from increased government spending, higher average Omani oil prices and improved economic activity, providing a supportive environment for banks, financial and industrial companies and firms operating in the services sector.

The number of companies recording profits increased to 82, compared to 80 during the first half of 2025, while the number of loss-making companies declined from 14 to 12.

Eight companies moved from losses to profits, while six shifted from profits to losses. Six other companies recorded losses in both periods.

Omantel Group topped the list of companies by net profit, recording RO 292.7 million during the first half of 2026, compared to RO 168.7 million a year earlier, representing an increase of 73.5 percent.

The group attributed the growth to higher revenues in its main operating markets and increased investment income from Zain Group. Net profit attributable to Omantel shareholders rose from RO 36.6 million to RO 58.6 million.

OQ Exploration and Production ranked second, with net profits of RO 199 million, compared to RO 166.6 million during the first half of 2025, registering growth of 19.4 percent.

The company said its growth strategy focuses on exploration successes, improving commercial terms, disciplined project implementation and selective expansion of its asset portfolio to enhance production, cash flows and portfolio sustainability.

Bank Muscat ranked third, recording profits of approximately RO 137.5 million, compared to RO 125.8 million during the same period last year.

The bank’s financial performance was supported by its strategic priorities, including strengthening its core business, investing in technology and innovation, expanding strategic partnerships and supporting key sectors of the national economy in line with Oman Vision 2040.

Oman India Fertiliser Company (OMIFCO) ranked fourth with net profits of RO 80.2 million, compared to approximately RO 54.2 million in the first half of 2025. The company was listed on the Muscat Stock Exchange in July 2026.

Sohar International Bank ranked fifth, with net profits rising to RO 53 million from RO 46.1 million.

Although the number of loss-making companies declined, their combined losses increased to approximately RO 37.8 million, compared to RO 7 million during the first half of 2025.

Al Suwadi Power and Al Batinah Power accounted for approximately RO 34.4 million, or 90.8 percent, of the total losses. The two companies attributed the losses to impairment assessments following the signing of a new power purchase agreement based on mutually agreed commercial terms.

Excluding the impairment impact, both companies reported positive financial and operational performance.

Eight companies moved from losses to profits during the first half of 2026. These included Raysut Cement, which recorded net profits of RO 2.7 million, Dhofar Tourism, with profits of RO 793,000, and National Real Estate Development, with net profits of RO 379,000.

The other companies moving from losses to profits were Financial Services, Fincorp, Al Batinah Development and Investment, National Gas and Building Materials Industry.

The positive financial results were accompanied by a significant increase in trading activity on the Muscat Stock Exchange. Trading during the first half of 2026 reached approximately RO 6.9 billion, compared to RO 917.2 million during the corresponding period of 2025.

The increase in trading activity and share prices contributed to the rise in market capitalization, which reached approximately RO 36.7 billion by the end of June 2026, compared to RO 28.2 billion in June 2025, representing growth of about 30 percent.

The results reflect the continued improvement in the performance of listed companies and increased activity in Oman’s capital market during the first half of 2026.