Shell Oman Marketing Company (SAOG) emphasized the company’s strong performance in the past year at its recent annual general meeting.
Analysts presented the yearly financial results from 2015 that showed the highest net profit for the company, amounting to more than $36 million. In contrast, the company’s net profit amounted to more than $31 million in 2014. Earnings per share for 2015 were 15.5 percent more than in 2014.
The meeting also approved a recommendation from the company’s board of directors to boost cash dividends 15 percent above year's dividend.
Shell Oman reported strong financial results because of its healthy retail fuels business growth. This multiyear investment program has been joined with the company’s strong lubricants business, helping the company to grow in the last year.
In addition, Shell Oman has decreased its operating costs in all areas. Its commercial fleet segment has upgraded the company’s IT department so that it also contributes toward the company’s growth goals.