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Oman Refreshment Q1 profit climbs 50.6% YOY

Oman Refreshment Co. SAOG said its first-quarter normalized net income was 1.3 million rials, an increase of 50.6% from 850,350 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 climbed to 7.7% from 5.2% in the year-earlier period.

Total revenue climbed on an annual basis to 16.6 million rials from 16.3 million rials, and total operating expenses declined year over year to 14.6 million rials from 15.0 million rials.

Reported net income came to 1.7 million rials, compared with 1.2 million rials in the prior-year period.

As of April 20, US$1 was equivalent to 39 Oman baiza.