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Dhofar Cattle Feed Q2 profit climbs YOY

Dhofar Cattle Feed Co. SAOG said its normalized net income for the second quarter was 928,380 Oman rials, a gain from 107,000 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 rose to 7.9% from 1.4% in the year-earlier period.

Total revenue increased 52.3% year over year to 11.8 million rials from 7.8 million rials, and total operating expenses grew 29.7% on an annual basis to 11.0 million rials from 8.5 million rials.

Reported net income increased on an annual basis to 1.5 million rials, or 23 baiza per share, from 131,000 rials, or 2 baiza per share.

As of Aug. 13, US$1 was equivalent to 385 Oman baiza.