Oman's Dhofar Poultry posts improved first-quarter earnings

Oman's Dhofar Poultry posts improved first-quarter earnings

Oman's olderst poultry company posted a 101.36% improvement in net profit for the first-quarter of the year compared to the same three months in 2020.

Dhofar Poultry Company on Sunday (April 11) reported a net profit of 1,919 Omani rials ($4,984) for the three months through March compared to a loss of 141,136 rials in 2020. 

Revenue was actually down by 2.4% to 2.33 million rials but the company brought down cost of sales by 10.38%  to 1.79 million rials and general and adminstrative expenses by 13.99% to 191,403 rials.