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A'Saffa Foods Q1 profit falls YOY

A'Saffa Foods SAOG said its first-quarter normalized net income was 1.1 million rials, a fall from 1.1 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 declined to 13.8% from 15.3% in the year-earlier period.

Total revenue climbed 9.8% year over year to 8.2 million rials from 7.5 million rials, and total operating expenses increased 13.6% year over year to 6.3 million rials from 5.6 million rials.

Reported net income came to 1.6 million rials, compared with 1.8 million rials in the prior-year period.

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