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National Biscuit Industries Q2 profit climbs YOY

National Biscuit Industries Ltd. SAOG said its normalized net income for the second quarter was 9 Oman baiza per share, an increase from 9 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 91,910 rials, a gain from 88,370 rials in the prior-year period.

The normalized profit margin climbed to 3.6% from 3.3% in the year-earlier period.

Total revenue declined year over year to 2.6 million rials from 2.6 million rials, and total operating expenses fell from the prior-year period to 2.4 million rials from 2.5 million rials.

Reported net income declined from the prior-year period to 123,010 rials, or 12 baiza per share, from 125,420 rials, or 13 baiza per share.

As of July 21, US$1 was equivalent to 39 Oman baiza.