Dhofar Cattle Feed Co. SAOG said its normalized net income for the second quarter was 408,750 Oman rials, a decrease of 33.0% from 610,500 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 declined to 3.3% from 4.9% in the year-earlier period.

Total revenue came to 12.4 million rials, compared with 12.3 million rials in the year-earlier period, and total operating expenses fell year over year to 11.7 million rials from 11.9 million rials.

Reported net income decreased 55.2% on an annual basis to 492,000 rials, or 8 baiza per share, from 1.1 million rials, or 13 baiza per share.

As of Aug. 11, US$1 was equivalent to 385 Oman baiza.