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Dhofar Cattle Feed Q2 profit falls YOY

Dhofar Cattle Feed Co. SAOG said its normalized net income for the second quarter amounted to 675,880 Oman rials, a fall of 27.3% from 930,250 rials in the year-earlier period.

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

The normalized profit margin fell to 4.9% from 7.9% in the year-earlier period.

Total revenue climbed year over year to 12.3 million rials from 11.8 million rials, and total operating expenses increased 8.9% from the prior-year period to 11.9 million rials from 11.0 million rials.

Reported net income decreased 27.9% on an annual basis to 1.1 million rials, or 12 baiza per share, from 1.5 million rials, or 23 baiza per share.

As of Aug. 12, US$1 was equivalent to 385 Oman baiza.