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Dhofar Beverage & Food Stuff Q2 profit climbs YOY

Dhofar Beverage & Food Stuff Co. SAOG said its normalized net income for the second quarter was 117,290 Oman rials, an increase from 56,450 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 7.4% from 3.9% in the year-earlier period.

Total revenue grew 9.7% on an annual basis to 1.6 million rials from 1.5 million rials, and total operating expenses climbed from the prior-year period to 1.4 million rials from 1.3 million rials.

Reported net income grew 71.4% year over year to 166,760 rials, or 9 baiza per share, from 97,270 rials, or 3 baiza per share.

As of July 28, US$1 was equivalent to 385 Oman baiza.