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Dhofar Cattle Feed Q1 loss narrows YOY

Dhofar Cattle Feed Co. SAOG said its first-quarter normalized net income was a loss of 34,880 rials, compared with a loss of 45,380 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 negative 0.5% from negative 0.5% in the year-earlier period.

Total revenue increased 13.1% year over year to 10.7 million rials from 9.4 million rials, and total operating expenses grew 12.9% from the prior-year period to 10.4 million rials from 9.2 million rials.

Reported net income came to a loss of 66,000 rials, or a loss of 1 baiza per share, compared to a loss of 99,000 rials, or a loss of 1 baiza per share, in the year-earlier period.

As of May 5, US$1 was equivalent to 385 Oman baiza.