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Dhofar Poultry Q1 profit climbs YOY

Dhofar Poultry Co. SAOG said its normalized net income for the first quarter was 76,690 Oman rials, an increase from 74,850 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 declined to 3.4% from 4.4% in the year-earlier period.

Total revenue increased 32.1% on an annual basis to 2.2 million rials from 1.7 million rials, and total operating expenses grew 34.8% year over year to 2.1 million rials from 1.5 million rials.

Reported net income grew on an annual basis to 122,700 rials, or 3 baiza per share, from 120,180 rials, or 3 baiza per share.

As of April 27, US$1 was equivalent to 385 Oman baiza.