Oman’s Dhofar Poultry posted a 4.19% drop in 2020 revenues to 9.056 million Omani rials ($23.56 mln), taking the company further away from its target of at least 12 mln rials by the end of 2021.
In a disclosure with the Muscat Securities Market on Feb 17, the Sultanate’s oldest poultry company reported a loss of 399,990 rials, an improvement from the loss of 492,853 in 2019.
The company was helped by a substantial 97.5% improvement in impairment losses on receivables that reached 12,350 rials in 2020 compared to 493,933 the previous year.
Dhofar Poultry said in December it aims to make at least 12 mln rials in revenue with an increase in production from nearly 8,000 tonnes in 2019 to 10,000 tonnes this year.
The company said that growth will be driven by diversified product offerings and aggressive marketing-led strategy.
© SalaamGateway.com 2021 All Rights Reserved