08 May 2012
Losses on feed products were behind the 48 per cent fall in third-quarter profits for Oman Flour Mills, according to the company's figures filed with the Muscat Securities Market.
Losses on feed products were behind the 48 per cent fall in third-quarter profits for Oman Flour Mills, according to the company's figures filed with the Muscat Securities Market.
The figures show that profit after tax for the first nine months of the company's 2011-2012 financial year fell to RO2.42mn, compared to RO4.67mn in the same period the previous year.
However, the company's sales volumes increased 20 per cent over the same period and the operating profit rose nine per cent.
In her statement to shareholders, Oman Flour Mills chairperson Manal al Abdwani said that the feed subsidy to be introduced by the government will help cut losses.
© Muscat Daily 2012
