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Dhofar Fisheries & Food Industries Q3 loss widens 45.1% YOY

Dhofar Fisheries & Food Industries Co. SAOG said its third-quarter normalized net income came to 183,130 Oman rials, compared with a loss of 126,250 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 negative 23.4% from negative 11.0% in the year-earlier period.

Total revenue fell 31.9% year over year to 783,000 rials from 1.1 million rials, and total operating expenses declined 25.7% year over year to 1.0 million rials from 1.4 million rials.

Reported net income totaled a loss of 293,000 rials, compared with a loss of 202,000 rials in the prior-year period.

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