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Dhofar Cattle Feed Q1 loss narrows YOY

Dhofar Cattle Feed Co. SAOG said its first-quarter normalized net income was a loss of 45,380 Oman rials, compared with a loss of 1.1 million 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 0.5% from negative 14.9% in the year-earlier period.

Total revenue climbed 31.3% on an annual basis to 9.4 million rials from 7.2 million rials, and total operating expenses climbed 5.7% on an annual basis to 9.2 million rials from 8.7 million rials.

Reported net income totaled a loss of 99,000 rials, or a loss of 1 baiza per share, compared to a loss of 1.7 million rials, or a loss of 22 baiza per share, in the year-earlier period.

As of May 8, US$1 was equivalent to 385 Oman baiza.