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Dhofar Beverage & Food Stuff Q2 profit falls YOY

Dhofar Beverage & Food Stuff Co. SAOG said its normalized net income for the second quarter amounted to 6,010 Oman rials, a fall of 92.5% from 80,030 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 fell to 0.5% from 5.8% in the year-earlier period.

Total revenue fell 9.6% on an annual basis to 1.2 million rials from 1.4 million rials, and total operating expenses came to 1.2 million rials, compared with 1.2 million rials in the prior-year period.

Reported net income totaled a loss of 7,360 rials, or a loss of 0.4 baiza per share, compared to income of 127,410 rials, or 6 baiza per share, in the year-earlier period.

As of July 28, US$1 was equivalent to 385 Oman baiza.