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Dhofar Cattle Feed Q3 loss narrows YOY

Dhofar Cattle Feed Co. SAOG said its normalized net income for the third quarter amounted to a loss of 87,130 Oman rials, compared with a loss of 411,500 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 increased to negative 0.7% from negative 3.8% in the year-earlier period.

Total revenue climbed 8.0% year over year to 11.7 million rials from 10.8 million rials, and total operating expenses grew year over year to 11.6 million rials from 11.4 million rials.

Reported net income came to a loss of 146,000 rials, or a loss of 2 baiza per share, compared to a loss of 789,000 rials, or a loss of 9 baiza per share, in the prior-year period.

As of Nov. 10, US$1 was equivalent to 385 Oman baiza.