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Dhofar Beverage & Food Stuff Q1 loss narrows YOY

Dhofar Beverage & Food Stuff Co. SAOG said its normalized net income for the first quarter came to 7,080 Oman rials, compared with a loss of 12,030 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 increased to negative 0.7% from negative 1.1% in the year-earlier period.

Total revenue declined on an annual basis to 1.0 million rials from 1.1 million rials, and total operating expenses decreased year over year to 1.1 million rials from 1.1 million rials.

Reported net income came to a loss of 4,320 rials, compared with a loss of 44,200 rials in the prior-year period.

As of April 26, US$1 was equivalent to 385 Oman baiza.