A'SAFFA FOODS NET RISES 6.5%

01/05/2014 07:36 AST

A'Saffa Foods Co reported a 6.5 per cent rise in its net profit for the first quarter ended March 31, 2014, to RO1.81mn, compared with RO1.7mn in the corresponding period of the previous year.

In a filing to the MSM on Wednesday, the company said it further improved operating performance during the first quarter by increasing production and sales activity.

Sales for the first quarter of 2014 increased by 5.9 per cent to RO7.45mn, compared with RO7.04mn during the same period of 2013.

The company accounted for feed subsidy of RO330,476 during the first quarter on an actual receipt basis.

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