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Dhofar Beverage & Food Stuff Q3 profit falls YOY

Dhofar Beverage & Food Stuff Co. SAOG said its third-quarter normalized net income was 110,370 Oman rials, a fall of 5.9% from 117,290 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 6.7% from 8.0% in the year-earlier period.

Total revenue climbed 12.4% on an annual basis to 1.6 million rials from 1.5 million rials, and total operating expenses increased 12.2% year over year to 1.4 million rials from 1.3 million rials.

Reported net income declined 27.7% on an annual basis to 133,440 rials, or 7 baiza per share, from 184,520 rials, or 12 baiza per share.

As of Oct. 23, US$1 was equivalent to 385 Oman baiza.