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A'Saffa Foods Q1 profit falls YOY

A'Saffa Foods SAOG said its first-quarter normalized net income came to 1.0 million rials, a decrease of 10.5% from 1.1 million 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 declined to 13.2% from 13.8% in the year-earlier period.

Total revenue declined 6.8% year over year to 7.6 million rials from 8.2 million rials, and total operating expenses decreased from the prior-year period to 6.0 million rials from 6.3 million rials.

Reported net income fell 9.9% from the prior-year period to 1.4 million rials, or 1 baiza per share, from 1.6 million rials, or 1 baiza per share.

As of April 25, US$1 was equivalent to 39 Oman baiza.