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Dhofar Cattle Feed Q4 loss narrows YOY

Dhofar Cattle Feed Co. SAOG said its fourth-quarter normalized net income amounted to a loss of 59,880 Oman rials, compared with a loss of 321,130 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 rose to negative 0.6% from negative 3.0% in the year-earlier period.

Total revenue decreased on an annual basis to 10.1 million rials from 10.6 million rials, and total operating expenses fell 10.7% from the prior-year period to 10.0 million rials from 11.2 million rials.

Reported net income came to a loss of 220,000 rials, or a loss of 3 baiza per share, compared to a loss of 528,000 rials, or a loss of 6 baiza per share, in the prior-year period.

For the year, the company's normalized net income totaled 86,500 rials, a decrease of 85.2% from 584,880 rials in the prior year.

Full-year total revenue increased from the prior-year period to 43.9 million rials from 43.3 million rials, and total operating expenses increased on an annual basis to 43.8 million rials from 42.7 million rials.

The company said reported net income fell 97.6% year over year to 22,000 rials, or 0.3 baiza per share, in the full year, from 922,000 rials, or 11 baiza per share.

As of March 16, US$1 was equivalent to 385 Oman baiza.