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Sohar Poultry fiscal Q3 profit climbs 79.2% YOY

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Sohar Poultry fiscal Q3 profit climbs 79.2% YOY

Sohar Poultry Co. SAOG said its normalized net income for the fiscal third quarter ended March 31 was 136,120 rials, an increase of 79.2% from 75,980 rials in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 6.3% from 4.1% in the year-earlier period.

Total revenue grew 17.5% on an annual basis to 2.2 million rials from 1.8 million rials, and total operating expenses increased 13.8% on an annual basis to 1.9 million rials from 1.7 million rials.

Reported net income came to 217,790 rials, compared with 121,580 rials in the prior-year period.

As of April 8, US$1 was equivalent to 39 Oman baiza.