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A'Saffa Foods Q2 profit falls YOY

A'Saffa Foods SAOG said its normalized net income for the second quarter came to 1.3 million rials, a fall from 1.3 million 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 14.5% from 16.4% in the year-earlier period.

Total revenue climbed 8.7% on an annual basis to 8.7 million rials from 8.0 million rials, and total operating expenses rose 14.6% year over year to 6.6 million rials from 5.8 million rials.

Reported net income totaled 1.8 million rials, compared with 1.9 million rials in the prior-year period.

As of July 8, US$1 was equivalent to 39 Oman baiza.