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Oman Flour Mills fiscal Q3 profit climbs 16.4% YOY

Oman Flour Mills Co. SAOG said its normalized net income for the fiscal third quarter ended March 31 came to 1.7 million rials, an increase of 16.4% from 1.5 million 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 6.7% from 7.2% in the year-earlier period.

Total revenue rose 9.5% year over year to 22.4 million rials from 20.5 million rials, and total operating expenses increased 8.2% on an annual basis to 19.7 million rials from 18.2 million rials.

Reported net income came to 2.4 million rials, compared with 2.1 million rials in the year-earlier period.

As of May 6, US$1 was equivalent to 38 Oman baiza.