MUSCAT: Total sales revenue of Oman’s National Detergent Company (NDC) has increased to RO23.38mn in 2014, as compared to RO21.70mn in 2013.
Consolidated profit from operations came in at RO1.13mn, against RO1.40mn in 2013. Profit before tax for 2014 stood at RO910,000 as compared with RO1.19mn in 2013.
The reduction in profitability was mainly due to increased manpower costs and other operational expenditure.
The board of directors of the company announced a 40 per cent dividend per share.
Commenting on the results, NDC director and CEO V Sundaresan, said, “The company achieved higher volume and value sales in 2014 as compared to last year despite various challenges faced like increase in manpower and operational costs. Profit before tax was impacted by increased direct operations costs, increased raw material prices and continued price competition in the marketplace.
“Some of our export markets have registered consistent growth during the year as compared to last year. Our conscious efforts to increase sales and additional investments in brand equity building have contributed to higher sales achievement,” he said.
NDC’s flagship brand, Bahar, and all other major products performed well in the local and export markets during the year. The powder and liquid plants in Sohar have become fully operational. Additional capacities of these plants have helped in exploring new markets and tapping available opportunities in existing ones.
