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Dhofar Cattle Feed turns to losses in Q3

Dhofar Cattle Feed turns to losses in Q3
The company posted OMR 93,000 in net losses - (Photo Credit: Arabianeye-Reuters)
Dhofar Cattle Feed
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Mubasher: Dhofar Cattle Feed unaudited financial results for the third quarter of 2016 have shown a 920.43% drop in the company’s earnings.

The company recorded around OMR 949,000 ($2.46 million) in net losses during Q3-16, versus a net profit of nearly OMR 93,000 ($240,740) in Q3-15, according to a bourse filing.

As for the nine months of 2016, Dhofar Cattle Feed reported OMR 192,00 i3n losses, against OMR 937,000 in net profits in the same period last year.

Finance cost has risen by 32.38% in the first three quarters of 2016 to OMR 695,000 from OMR 525,000 in the same period in 2015.