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National Detergent Q4 profit climbs YOY

National Detergent Co. SAOG said its fourth-quarter normalized net income came to 140,570 rials, a rise from 63,430 rials in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 2.8% from 1.3% in the year-earlier period.

Total revenue decreased year over year to 5.0 million rials from 5.0 million rials, and total operating expenses decreased year over year to 4.7 million rials from 4.9 million rials.

Reported net income rose year over year to 186,090 rials, or 1 baiza per share, from 89,270 rials, or 1 baiza per share.

For the year, the company's normalized net income totaled 3 baiza per share, a fall of 13.7% from 3 baiza per share in the prior year.

Normalized net income was 493,700 rials, a fall of 13.7% from 572,130 rials in the prior year.

Full-year total revenue decreased on an annual basis to 22.6 million rials from 23.4 million rials, and total operating expenses fell year over year to 21.6 million rials from 22.3 million rials.

The company said reported net income decreased 15.1% year over year to 686,860 rials, or 4 baiza per share, in the full year, from 809,130 rials, or 5 baiza per share.

As of Feb. 22, US$1 was equivalent to 39 Oman baiza.