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Dhofar Beverage & Food Stuff Q2 profit falls YOY

Dhofar Beverage & Food Stuff Co. SAOG said its second-quarter normalized net income was 80,030 Oman rials, a decline of 31.8% 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 fell to 5.8% from 7.4% in the year-earlier period.

Total revenue decreased 13.5% on an annual basis to 1.4 million rials from 1.6 million rials, and total operating expenses fell 10.1% from the prior-year period to 1.2 million rials from 1.4 million rials.

Reported net income decreased 23.6% on an annual basis to 127,410 rials, or 6 baiza per share, from 166,760 rials, or 9 baiza per share.

As of July 25, US$1 was equivalent to 385 Oman baiza.