Muscat – The net profits of industrial companies listed on the Muscat Stock Exchange (MSX) rose to approximately RO175.3mn in the first half of 2026, compared with RO119.4mn in the same period last year, registering a strong growth of 46.8%.

The increase reflects improving economic conditions, supported by government spending, stronger consumer confidence, rising demand for Omani industrial products and lower financing costs.

The sharp rise in profitability also highlights industrial companies’ efforts to improve operational efficiency, expand exports and enhance product quality through various marketing initiatives and programmes, strengthening their competitiveness in international markets.

Preliminary financial results showed that several industrial companies reported higher profits in H1 2026 compared with the corresponding period last year. Oman India Fertilizer Company (Omifco) recorded a significant increase in net profit, which rose to RO80.2mn in the first half of this year from RO54.1mn in H1 2025. OQ Base Industries’ net profit increased from RO23.4mn in H1 2025 to RO43.3mn this year.

Oman Cables Industry Company reported a marginal increase in net profit, rising from RO11.3mn to RO11.4mn. Voltamp Energy Company’s net profit increased from RO6.8mn to more than RO7mn, while Oman Flour Mills Company’s profit climbed from RO4.3mn to approximately RO6.9mn.

Cement companies also reported improved results, supported by increased demand for their products and growth in real estate activity. Oman Cement Company’s net profit increased from RO4.7mn to approximately RO6.9mn, while Raysut Cement Company reported a net profit of RO2.7mn, compared with a loss of RO2.5mn in H1 2025.

Several other industrial companies also recorded strong performances. Galfar Engineering and Contracting’s net profit increased from just RO71,000 to RO2.5mn, while Dhofar Food and Investment’s profit rose from RO332,000 to approximately RO2.2mn. Gulf Mushroom Products’ net profit increased from RO1.1mn to more than RO1.6mn.

Meanwhile, three companies moved from profit to loss during the period – Oman Chlorine, National Detergents Company and Salalah Mills.

A total of 28 industrial companies announced their preliminary financial results for H1 2026, with 21 reporting profits and eight reporting losses.

The combined losses reported by industrial companies declined to RO3.1mn in the first half of this year, compared with losses of RO5.2mn in the same period last year.

The improved financial performance of industrial companies listed on MSX was reflected in the industrial sector index, which closed at 9,756 points at the end of June, gaining 1,910 points during the first half of the year.