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Sohar Poultry fiscal Q2 profit falls YOY

Sohar Poultry Co. SAOG said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 46,160 rials, a decrease of 61.0% from 118,380 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 fell to 2.1% from 5.7% in the year-earlier period.

Total revenue rose on an annual basis to 2.2 million rials from 2.1 million rials, and total operating expenses climbed 11.1% on an annual basis to 2.1 million rials from 1.9 million rials.

Reported net income came to 73,860 rials, compared with 189,410 rials in the prior-year period.

As of Jan. 27, US$1 was equivalent to 39 Oman baiza.