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Dhofar Cattle Feed swings to profit in Q3

Dhofar Cattle Feed Co. SAOG said its normalized net income for the third quarter was 27,750 Oman rials, compared with a loss of 11,250 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 increased to 0.2% from negative 0.1% in the year-earlier period.

Total revenue climbed 34.9% on an annual basis to 11.4 million rials from 8.5 million rials, and total operating expenses grew 35.4% on an annual basis to 11.3 million rials from 8.3 million rials.

Reported net income came to 27,000 rials, compared to a loss of 22,000 rials in the prior-year period.

As of Nov. 13, US$1 was equivalent to 385 Oman baiza.