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Dhofar Beverage & Food Stuff Q3 profit falls YOY

Dhofar Beverage & Food Stuff Co. SAOG said its normalized net income for the third quarter amounted to 10,740 Oman rials, a fall of 75.9% from 44,480 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 fell to 0.8% from 3.2% in the year-earlier period.

Total revenue decreased 5.4% on an annual basis to 1.3 million rials from 1.4 million rials, and total operating expenses fell year over year to 1.3 million rials from 1.3 million rials.

Reported net income declined 80.0% from the prior-year period to 12,660 rials, or 1 baiza per share, from 63,450 rials, or 3 baiza per share.

As of Oct. 27, US$1 was equivalent to 385 Oman baiza.