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Sweets of Oman Q1 profit climbs 20.1% YOY

Sweets of Oman SAOG said its normalized net income for the first quarter came to 35,330 rials, a gain of 20.1% from 29,410 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 climbed to 1.3% from 1.2% in the year-earlier period.

Total revenue rose 5.9% year over year to 2.6 million rials from 2.5 million rials, and total operating expenses grew 6.8% from the prior-year period to 2.6 million rials from 2.4 million rials.

Reported net income came to 53,340 rials, compared with 45,010 rials in the prior-year period.

As of April 18, US$1 was equivalent to 39 Oman baiza.