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Oman Fisheries fiscal Q2 loss narrows YOY

Oman Fisheries Co. SAOG said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 21,040 rials, compared with a loss of 362,400 rials in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to negative 0.6% from negative 5.8% in the year-earlier period.

Total revenue declined 5.4% year over year to 5.9 million rials from 6.2 million rials, and total operating expenses fell 13.0% from the prior-year period to 5.9 million rials from 6.8 million rials.

Reported net income totaled a loss of 103,250 rials, or a loss of 0 baiza per share, compared to a loss of 540,740 rials, or a loss of 0 baiza per share, in the prior-year period.

As of Oct. 28, US$1 was equivalent to 39 Oman baiza.