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Shell Oman posts record profits, highest among oil companies

In spite of the prevailing global slowdown, Shell Oman emerged as the leader in the Sultanate’s fuel marketing industry, posting highest gross & net profits. Shell’s net profit rose by 3.9% in 2009 to RO 13mn, compared with 12.5m in 2008. Gross profit margin improved to 10.96% in FY’09, from 9.28% in FY’08.

Shell led the charts in the industry on other key parameters of financial performance also. Return on Capital Employed stood at 47.2% while Total Shareholders Returns were 20.7%, reflecting Shell’s concern for investors. In fact, the company has proposed a dividend of 120 baisa per share on 2009 profits. What makes this performance more commendable is that in spite the global economic slowdown, the EPS has gone up to 130 Baisa, from 125 Baisa in ’08, with the Company’s focus on three business areas — Network Development, Operational Excellence and Marketing. 

“The results are a true reflection of the robustness and operational efficiency of Shell Oman, in keeping with our commitment to all our stakeholders. Our sustained focus on streamlining our operations, along with cost reduction initiatives, enabled us to sustain and grow in spite of the challenging market conditions in 2009.  We provide a level of service designed to ensure that the Company is the supplier of first choice in all business segments.  Of course, none of this is possible without the high focus on selection and development of talent and their effective motivation and retention,” said Faisal Al Hashar, Managing Director, Shell Oman Marketing Co.

Commenting on the success of the Company in a difficult year and Shell Oman retaining the top spot in the industry, Faisal Al Hashar said, “The Company’s robust performance of 2009 was the outcome of teamwork and dedication, backed by prudent planning and processes. We sell ‘reliability to our customers. We offer the best overall value through delivering a reliable source of supply and being a true partner to our customers.’

About Shell Oman:

Shell Oman is an Omani company, listed on the Muscat Securities Market, managed and operated by Omanis. The Company the market leader in supplying fuel and lubricants and is known for its high service standards.