Complex Made Simple

Oman Flour Mills blames 48% profit plunge on feed products

Oman Flour Mills has blamed losses on feed products for the 48% drop in third-quarter profits, Muscat Daily has reported. Profit after tax for the first nine months of the company's 2011-2012 financial year fell to OR2.42m from OR4.67m in the same period the previous year. The company's sales volumes, however, rose 20% over the same period and the operating profit rose 9%, it said.