Mubasher: Hotels Management Co International (HMCI) posted a growth in profits by 20.15% in the first quarter of 2017, as shown by the company’s unaudited initial financial results.

The company said in a statement to the Muscat Securities Market (MSM) that profits totalled OMR 1.24 million ($3.21 million) in Q1-17, compared to OMR 1.03 million ($2.67 million) in the same quarter in 2016.

Revenues increased by 8.59% to OMR 3.71 million in Q1-17 up from OMR 3.42 million Q1-16.