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Dhofar Poultry Q3 profit climbs 62.1% YOY

Dhofar Poultry Co. SAOG said its normalized net income for the third quarter came to 39,100 rials, an increase of 62.1% from 24,120 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 declined to 1.7% from 2.0% in the year-earlier period.

Total revenue increased 93.6% on an annual basis to 2.3 million rials from 1.2 million rials, and total operating expenses climbed 95.4% on an annual basis to 2.2 million rials from 1.1 million rials.

Reported net income grew 32.9% on an annual basis to 51,300 rials, or 1 baiza per share, from 38,590 rials, or 1 baiza per share.

As of Oct. 22, US$1 was equivalent to 385 Oman baiza.