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Oman Refreshment Q3 profit climbs YOY

Oman Refreshment Co. SAOG said its third-quarter normalized net income was 2.6 million rials, a gain from 2.5 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 dropped to 11.2% from 11.2% in the year-earlier period.

Total revenue increased on an annual basis to 23.0 million rials from 22.6 million rials, and total operating expenses rose on an annual basis to 19.0 million rials from 18.6 million rials.

Reported net income came to 3.7 million rials, compared with 3.5 million rials in the prior-year period.

As of Oct. 24, US$1 was equivalent to 39 Oman baiza.