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Sohar Poultry fiscal Q3 profit falls YOY

Sohar Poultry Co. SAOG said its normalized net income for the fiscal third quarter ended March 31 amounted to 78,370 rials, a fall of 42.4% from 136,120 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 fell to 3.8% from 6.3% in the year-earlier period.

Total revenue fell on an annual basis to 2.1 million rials from 2.2 million rials, and total operating expenses climbed from the prior-year period to 1.9 million rials from 1.9 million rials.

Reported net income totaled 125,390 rials, compared with 217,790 rials in the prior-year period.

As of April 18, US$1 was equivalent to 39 Oman baiza.