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Dubai Refreshment Q2 profit falls YOY

Dubai Refreshment (P.J.S.C.) said its second-quarter normalized net income was 28 United Arab Emirates fils per share, compared with 28 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 24.6 million dirhams, compared with 24.8 million dirhams in the prior-year period.

The normalized profit margin rose to 9.4% from 9.0% in the year-earlier period.

Total revenue decreased year over year to 261.5 million dirhams from 274.7 million dirhams, and total operating expenses declined 5.3% from the prior-year period to 222.9 million dirhams from 235.5 million dirhams.

Reported net income totaled 39.4 million dirhams, or 44 fils per share, compared to 39.6 million dirhams, or 44 fils per share, in the year-earlier period.

As of Aug. 10, US$1 was equivalent to 3.67 United Arab Emirates dirhams.