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National Biscuit Industries Q3 profit falls YOY

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National Biscuit Industries Q3 profit falls YOY

National Biscuit Industries Ltd. SAOG said its third-quarter normalized net income came to 5 Oman baiza per share, a decline of 29.8% from 7 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 49,360 rials, a decrease of 29.6% from 70,100 rials in the prior-year period.

The normalized profit margin declined to 2.1% from 2.8% in the year-earlier period.

Total revenue decreased 5.3% on an annual basis to 2.3 million rials from 2.5 million rials, and total operating expenses fell on an annual basis to 2.3 million rials from 2.4 million rials.

Reported net income declined 30.3% year over year to 69,910 rials, or 7 baiza per share, from 100,250 rials, or 10 baiza per share.

As of Nov. 11, US$1 was equivalent to 39 Oman baiza.