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Oman Flour Mills fiscal Q3 profit climbs 58.6% YOY

Oman Flour Mills Co. SAOG said its normalized net income for the fiscal third quarter ended March 31 amounted to 2.4 million rials, a rise of 58.6% from 1.5 million 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 10.8% from 6.7% in the year-earlier period.

Total revenue climbed on an annual basis to 22.9 million rials from 22.4 million rials, and total operating expenses fell year over year to 19.2 million rials from 20.1 million rials.

Reported net income totaled 3.1 million rials, compared with 2.1 million rials in the prior-year period.

As of April 26, US$1 was equivalent to 39 Oman baiza.