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Dhofar Fisheries & Food Industries Q3 loss narrows YOY

Dhofar Fisheries & Food Industries Co. SAOG said its third-quarter normalized net income was 89,380 Oman rials, compared with a loss of 183,130 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 climbed to negative 9.4% from negative 23.4% in the year-earlier period.

Total revenue grew 20.8% year over year to 946,000 rials from 783,000 rials, and total operating expenses totaled 1.0 million rials, compared with 1.0 million rials in the year-earlier period.

Reported net income totaled a loss of 143,000 rials, compared with a loss of 293,000 rials in the prior-year period.

As of Oct. 30, US$1 was equivalent to 385 Oman baiza.