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Al Batnah Hotels Q2 profit climbs YOY

Al Batnah Hotels Co. SAOG said its second-quarter normalized net income was 22,780 rials, a gain from 4,650 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 increased to 6.6% from 2.0% in the year-earlier period.

Total revenue grew 47.3% year over year to 346,280 rials from 235,100 rials, and total operating expenses increased 36.1% from the prior-year period to 309,840 rials from 227,660 rials.

Reported net income came to 26,020 rials, compared with 6,950 rials in the prior-year period.

As of July 15, US$1 was equivalent to 39 Oman baiza.