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Salalah Beach Resort Q4 profit climbs 22.2% YOY

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Salalah Beach Resort Q4 profit climbs 22.2% YOY

Salalah Beach Resort SAOG said its fourth-quarter normalized net income came to 3 Oman baiza per share, a gain of 22.2% from 2 baiza per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 190,690 rials, a gain of 22.2% from 156,050 rials in the year-earlier period.

The normalized profit margin increased to 18.5% from 15.4% in the year-earlier period.

Total revenue climbed year over year to 1.0 million rials from 1.0 million rials, and total operating expenses fell 4.9% on an annual basis to 731,440 rials from 769,280 rials.

Reported net income rose 10.5% from the prior-year period to 265,230 rials, or 4 baiza per share, from 239,960 rials, or 4 baiza per share.

For the year, the company's normalized net income totaled 9 baiza per share, compared with 9 baiza per share in the prior year.

Normalized net income was 566,240 rials, compared with 562,860 rials in the prior year.

Full-year total revenue totaled 3.8 million rials, compared with 3.8 million rials in the prior year, and total operating expenses totaled 2.9 million rials, compared with 2.9 million rials in the prior-year period.

The company said reported net income totaled 791,210 rials, or 13 baiza per share, in the full year, compared with 792,580 rials, or 13 baiza per share, the prior year.

As of Feb. 18, US$1 was equivalent to 39 Oman baiza.