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National Biscuit Industries Q1 profit falls YOY

National Biscuit Industries Ltd. SAOG said its first-quarter normalized net income came to 15 Oman baiza per share, a decrease from 16 baiza per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 151,570 rials, a decrease from 158,740 rials in the year-earlier period.

The normalized profit margin dropped to 5.0% from 5.2% in the year-earlier period.

Total revenue decreased year over year to 3.0 million rials from 3.1 million rials, and total operating expenses declined on an annual basis to 2.8 million rials from 2.8 million rials.

Reported net income decreased 5.3% from the prior-year period to 209,530 rials, or 21 baiza per share, from 221,180 rials, or 22 baiza per share.

As of April 27, US$1 was equivalent to 39 Oman baiza.