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A'Saffa Foods Q3 profit falls YOY

A'Saffa Foods SAOG said its third-quarter normalized net income amounted to 849,240 rials, a fall of 14.6% from 994,070 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 dropped to 11.8% from 13.4% in the year-earlier period.

Total revenue decreased year over year to 7.1 million rials from 7.4 million rials, and total operating expenses decreased on an annual basis to 5.7 million rials from 5.8 million rials.

Reported net income fell 17.4% on an annual basis to 1.2 million rials, or 1 baiza per share, from 1.4 million rials, or 1 baiza per share.

As of Oct. 24, US$1 was equivalent to 39 Oman baiza.