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National Biscuit Industries Q1 profit climbs 29.2% YOY

National Biscuit Industries Ltd. SAOG said its first-quarter normalized net income was 20 Oman baiza per share, an increase of 29.1% from 15 baiza per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 195,780 rials, a gain of 29.2% from 151,570 rials in the prior-year period.

The normalized profit margin rose to 6.4% from 5.0% in the year-earlier period.

Total revenue climbed year over year to 3.0 million rials from 3.0 million rials, and total operating expenses decreased from the prior-year period to 2.7 million rials from 2.8 million rials.

Reported net income rose 26.7% on an annual basis to 265,490 rials, or 27 baiza per share, from 209,530 rials, or 21 baiza per share.

As of April 22, US$1 was equivalent to 39 Oman baiza.