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Oman Flour Mills fiscal Q1 profit climbs 26.9% YOY

Oman Flour Mills Co. SAOG said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 1.6 million rials, a rise of 26.9% from 1.3 million 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 rose to 7.8% from 6.8% in the year-earlier period.

Total revenue increased 5.2% on an annual basis to 19.7 million rials from 18.8 million rials, and total operating expenses increased on an annual basis to 17.1 million rials from 16.8 million rials.

Reported net income totaled 2.2 million rials, compared with 1.8 million rials in the year-earlier period.

As of Nov. 13, US$1 was equivalent to 39 Oman baiza.