MIRA INFORM REPORT

 

 

Report Date :

12.07.2012

 

IDENTIFICATION DETAILS

 

Name :

ASAFFA FOODS SAOG

 

 

Registered Office :

Sondok Al Baridi 3436, Ruwi, 112

 

 

Country :

Oman

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

30.12.2001

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

manufacture and distribution of poultry meat

 

 

No. of Employees :

242

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear



NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Oman

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

ASaffa Foods SAOG

Sondok Al Baridi: 3436

Ruwi, 112

Oman

Tel:       968-24-591800

Fax:      968-24-592800

Web:    www.asaffa.com

           

 

Registration data 

 

Employees:                   242

Company Type:            Public Independent

Traded:                         Muscat Securities Market:          SPFI

Incorporation Date:         30-Dec-2001

Auditor:                        PricewaterhouseCoopers LLP    

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       Rial Omani

Annual Sales:               55.4  1

Net Income:                  10.0

Total Assets:                 75.3  2

Market Value:                141.8 (28-Jun-2012)

 

 

Business Description     

 

A Saffa Foods SAOG is an Oman-based company engaged in the manufacture and distribution of poultry meat. The Company's products include chilled fresh and frozen chicken, chicken thighs, chicken breast, drumstick, wings, liver, heart and gizzard. ASaffa Foods SAOG's farms comprise a complex of parent bird farms, hatchery, broiler bird farms, slaughter houses, processing plant, rendering plant, power station, laboratory, cold storage and effluent treatment system. Its chickens are produced at the processing plant and slaughtering is done by hand (Halal) according to the Islamic Sharia. It exports frozen chicken to countries like United Arab Emirates, Qatar, Bahrain, Kuwait, Saudi Arabia, Yemen, Iraq, Lebanon, Egypt, Vietnam, China and Pakistan. The Company’s wholly owned subsidiary, A Saffa Meat Processing LLC, which focuses on the production and distribution of meat and fish products. For the three months ended 31 March 2012, A'Saffa Foods sales increased 15% to OMR5.8M. Net income increased 30% to OMR1.1M. Total sale reflects an increase in demand for the Company's products. Net income benefited from a decrease in interest expenses. A'Saffa Foods is an Oman-based Company engaged in the production of fresh and frozen chicken products. The Company is listed on Muscat Securities Market.

 

Industry

Industry            Food Processing

ANZSIC 2006:    1112 - Poultry Processing

NACE 2002:      1512 - Production and preserving of poultry meat

NAICS 2002:     311615 - Poultry Processing

UK SIC 2003:    1512 - Production and preserving of poultry meat

US SIC 1987:    2015 - Poultry Slaughtering and Processing

 

           

Key Executives   

 

Name

Title

Naser Zaher Naser Al Maawali

Chief Executive Officer

Mohammed Rafiq Chaudhry

Chief Financial Officer

Sidhartha Lenka

Head of Marketing and Sales Manager

Amira Al Atta Bin Ouf Al Atta

Secretary of the Board

Yassin Khidir El Nour

Senior Operations Manager

 

 

Significant Developments  

 

 

Topic

#*

Most Recent Headline

Date

Dividends

1

A Saffa Foods SAOG Recommends 12% Annual Cash Dividend and 5% Stock Dividend For FY 2011; To Obtain Bank Facility For OMR 3 Million

11-Mar-2012

 

* number of significant developments within the last 12 months                                                                          

 

 

Financial Summary    

 

As of 31-Mar-2012

Key Ratios

Company

Industry

Current Ratio (MRQ)

1.87

1.53

Quick Ratio (MRQ)

1.38

0.78

Debt to Equity (MRQ)

0.69

1.14

Sales 5 Year Growth

27.28

6.97

Net Profit Margin (TTM) %

18.56

7.06

Return on Assets (TTM) %

13.40

7.05

Return on Equity (TTM) %

26.46

21.45

 

 

Stock Snapshot    

 

 

Traded: Muscat Securities Market: SPFI

 

As of 28-Jun-2012

   Financials in: OMR

Recent Price

0.50

 

EPS

0.03

52 Week High

0.54

 

Price/Sales

2.56

52 Week Low

0.37

 

Dividend Rate

0.01

Avg. Volume (mil)

0.03

 

Price/Earnings

13.75

Market Value (mil)

54.57

 

Price/Book

3.19

 

Price % Change

Rel S&P 500%

4 Week

-5.71%

-4.63%

13 Week

-3.13%

-3.13%

52 Week

31.25%

36.48%

Year to Date

6.29%

6.39%

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = OMR 0.385032

2 - Balance Sheet Item Exchange Rate: USD 1 = OMR 0.385

 

 

Corporate Overview

 

Location

Sondok Al Baridi: 3436

Ruwi, 112

Oman

Tel:       968-24-591800

Fax:      968-24-592800

Web:    www.asaffa.com

           

Quote Symbol - Exchange

SPFI - Muscat Securities Market

Sales OMR(mil):            21.3

Assets OMR(mil):          29.0

Employees:                   242

Fiscal Year End:            31-Dec-2011

Industry:                        Food Processing

Incorporation Date:         30-Dec-2001

Company Type:             Public Independent

Quoted Status:              Quoted

Chief Executive Officer:   Naser Zaher Naser Al Maawali

Company Web Links

Corporate History/Profile

Employment Opportunities

Executives

Home Page

News Releases

Products/Services

 

Contents

Industry Codes

Business Description

Financial Data

Market Data

Shareholders

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

017       -          Poultry Farming

0171     -          Poultry Farming (Meat)

1120     -          Seafood Processing

1112     -          Poultry Processing

 

NACE 2002 Codes:

0124     -          Farming of poultry

1512     -          Production and preserving of poultry meat

1520     -          Processing and preserving of fish and fish products

 

NAICS 2002 Codes:

112340  -          Poultry Hatcheries

112390  -          Other Poultry Production

311712  -          Fresh and Frozen Seafood Processing

311615  -          Poultry Processing

 

US SIC 1987:

0254     -          Poultry Hatcheries

0259     -          Poultry and Eggs, Not Elsewhere Classified

2092     -          Prepared Fresh or Frozen Fish and Seafoods

2015     -          Poultry Slaughtering and Processing

 

UK SIC 2003:

0124     -          Farming of poultry

1512     -          Production and preserving of poultry meat

1520     -          Processing and preserving of fish and fish products

 

Business Description

A Saffa Foods SAOG is an Oman-based company engaged in the manufacture and distribution of poultry meat. The Company's products include chilled fresh and frozen chicken, chicken thighs, chicken breast, drumstick, wings, liver, heart and gizzard. ASaffa Foods SAOG's farms comprise a complex of parent bird farms, hatchery, broiler bird farms, slaughter houses, processing plant, rendering plant, power station, laboratory, cold storage and effluent treatment system. Its chickens are produced at the processing plant and slaughtering is done by hand (Halal) according to the Islamic Sharia. It exports frozen chicken to countries like United Arab Emirates, Qatar, Bahrain, Kuwait, Saudi Arabia, Yemen, Iraq, Lebanon, Egypt, Vietnam, China and Pakistan. The Company’s wholly owned subsidiary, A Saffa Meat Processing LLC, which focuses on the production and distribution of meat and fish products. For the three months ended 31 March 2012, A'Saffa Foods sales increased 15% to OMR5.8M. Net income increased 30% to OMR1.1M. Total sale reflects an increase in demand for the Company's products. Net income benefited from a decrease in interest expenses. A'Saffa Foods is an Oman-based Company engaged in the production of fresh and frozen chicken products. The Company is listed on Muscat Securities Market.

 

More Business Descriptions

Production of chickens

 

Financial Data

Financials in:

OMR(mil)

 

Sale:

21.3

Net Income:

3.9

Assets:

29.0

Long Term Debt:

6.8

 

Total Liabilities:

11.9

 

Working Capital:

0.0

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

14.1%

22.2%

7.0%

Market Data

Quote Symbol:

SPFI

Exchange:

Muscat Securities Market

Currency:

OMR

Stock Price:

0.5

Stock Price Date:

06-28-2012

52 Week Price Change %:

31.3

Market Value (mil):

54,573.8

 

SEDOL:

B1890N8

ISIN:

OM0000002804

 

Equity and Dept Distribution:

3/2010, 100-for-10 stock split. 3/2011, Scrip Issue 5 new shares for every 100 shares held (Factor: 1.05 ). 3/2012, Scrip Issue, 5 new shares for every 100 shares held (Factor: 1.05).

 

Shareholders

 

 

Major Shareholders

Gulf Investment Corporation (33.25%); Arab Authority for Agricultural Investment & Development (33.25%); Internal Security Service Pension Fund (10%); National United Engineering & Contracting Co LLC (10%)

 

 

 

 

Key Corporate Relationships

Auditor:

PricewaterhouseCoopers LLP

 

Auditor:

PricewaterhouseCoopers LLP, Moore Stephens LLP

 

 

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Al Arabi Mohammed Al Hamdi

 

Non-Executive Vice Chairman

Chairman

 

Saleh Mohammed Al Shanfari

 

Non-Executive Independent Chairman of the Board

Chairman

 

Biography:

Eng. Saleh Mohammed Al Shanfari serves as Non-Executive Independent Chairman of the Board of ASaffa Foods SAOG. He represented Global Omani Investment Co. SAOC until March 24, 2011. He is also Member of the Board of Global Omani Investment Co. SAOC, Omani Logistics Services Co. SAOC and The Global Omani Investment Co. SAOC.

 

Compensation/Salary:5,600

Compensation Currency: OMR

 

Fahad Al Abdul Qader

 

Non-Executive Independent Vice Chairman of the Board, representing Gulf Investment Corporation

Vice-Chairman

 

 

Biography:

Mr. Fahad Al Abdul Qader serves as Non-Executive Independent Vice Chairman of the Board, representing Gulf Investment Corporation at ASaffa Foods SAOG. He is a Certified Accountant.

 

Compensation/Salary:5,100

Compensation Currency: OMR

 

Said Ali Al Fannah Al Araimi

 

Member of the Board, representing National United Engineering & Contracting Co. LLC

Director/Board Member

 

 

Mohammed Bin Hassan Al Asere

 

Non-Executive Independent Member of the Board

Director/Board Member

 

 

Rashid Mohammed Al Ghelani

 

Non-Executive Director

Director/Board Member

 

 

Areej Mohammed Al Kleeb

 

Non-Executive Independent Member of the Board

Director/Board Member

 

 

Suleiman Bin Naser Al Lamki

 

Non-Executive Independent Member of the Board, representing Internal Security Pension Fund

Director/Board Member

 

 

Biography:

Mr. Suleiman Naser Al Lamki serves as Non-Executive Independent Member of the Board of ASaffa Foods SAOG, representing Internal Security Pension Fund. H e is also the Investment Manager in Internal Security Pension Fund.

 

Compensation/Salary:10,000

Compensation Currency: OMR

 

Mubarak Suleiman Al Mantheri

 

Non-Executive Independent Member of the Board, representing Arab Authority For Agric Invst & Dev

Director/Board Member

 

 

Biography:

Mr. Mubarak Suleiman Al Mantheri serves as Non-Executive Independent Member of the Board of A Saffa Foods SAOG, representing Arab Authority For Agricultural Investment & Development. H e is also Member of the Board of Oman Cement SAOG and Oman Environmental Services Holding Co. SAOC. He is also Director General of Investments in the Ministry of Finance, Sultanate Oman.

 

Compensation/Salary:4,200

Compensation Currency: OMR

 

Rashid Bin Rasheed

 

Non-Executive Director

Director/Board Member

 

 

 

Executives

 

Name

Title

Function

 

Naser Zaher Naser Al Maawali

 

Chief Executive Officer

Chief Executive Officer

 

Biography:

Dr. Naser Zaher Naser Al Maawali serves as Chief executive Officer of ASaffa Foods SAOG. He has 32 years experience in animal production encompassing planning and overseeing implementation of projects and programs, conducting and supervising research projects and hand-on commercial production at the farm level.

 

Nasser Zaher Al Mauly

 

Chief Executive Officer

Chief Executive Officer

 

 

Yassin Khidir El Nour

 

Senior Operations Manager

Operations Executive

 

 

Biography:

Eng. Yassin Khidir El Nour serves as Senior Operations Manager of ASaffa Foods SAOG. He has experience in poultry farming and farm management.

 

Mohammed Ahmad Al Shanfari

 

Assistant Chief Executive Officer for Administration Affairs

Administration Executive

 

 

Biography:

Mr. Mohammed Ahmad Al Shanfari serves as Assistant Chief Executive Officer for Administration Affairs of ASaffa Foods SAOG. He has over 37 years in the public relation, commercial activities, human resource and administration.

 

Amira Al Atta Bin Ouf Al Atta

 

Secretary of the Board

Company Secretary

 

 

Mohammed Rafiq Chaudhry

 

Chief Financial Officer

Finance Executive

 

 

Biography:

Mr. Mohammed Rafiq Chaudhry serves as Chief Financial Officer of ASaffa Foods SAOG. He has 27 years diversified experience in strategic financial and Operation planning, designing corporate objectives and goals, monitoring project performance, performance analysis and corrective measures, financial and accounting activities of the project.

 

Saleem Padmavathy Vasu

 

Internal Auditor

Accounting Executive

 

 

Sidhartha Lenka

 

Head of Marketing and Sales Manager

Sales Executive

 

 

Biography:

Mr. Sidhartha Lenka serves as Head of Marketing and Sales Manager of ASaffa Foods SAOG. He has 24 years experience in Heading Sales and marketing Pan India as well as Eastern & Southern African and GCC countries, special in brand building, setting distribution network, direct distribution, advertising and promotion, business & sales planning and setting goals, target achievement and ROI.

 

 

Significant Developments

 

A Saffa Foods SAOG Recommends 12% Annual Cash Dividend and 5% Stock Dividend For FY 2011; To Obtain Bank Facility For OMR 3 Million Mar 11, 2012

 

A Saffa Foods SAOG announced that its Board f Directors has recommended the Company to distribute 12% of the share's nominal value, representing OMR 0.012 per share, as annual cash dividends for the fiscal year ended December 31, 2011, as well as stock dividend of 5%, representing 5.00 shares for each 100 outstanding shares, for the fiscal year ended December 31, 2011. Furthermore, the Board of Directors recommended the issuance of Corporate Guarantee to the National Bank of Oman as a security for bank facilities aggregating to OMR 3.00 million sanctioned to A Saffa Meat Processing LLC, a wholly owned subsidiary of the Company.

 

 

Annual Income Statement

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate (Period Average)

0.385032

0.385008

0.384999

0.384956

0.384897

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

MOOR STEPHENS

Moore Stephens

MOOR STEPHENS

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

55.4

48.6

41.0

33.8

24.1

Sale

55.4

48.6

41.0

33.8

24.1

Total Sale

55.4

48.6

41.0

33.8

24.1

 

 

 

 

 

 

    Cost of Sale

35.9

31.6

26.6

24.0

17.9

Cost of Sale, Total

35.9

31.6

26.6

24.0

17.9

Gross Profit

19.5

16.9

14.4

9.9

6.2

 

 

 

 

 

 

    Selling/General/Administrative Expense

4.3

3.8

5.7

4.0

2.8

    Labor & Related Expense

3.0

2.5

-

-

-

    Advertising Expense

0.9

1.0

-

-

-

Total Selling/General/Administrative Expenses

8.2

7.2

5.7

4.0

2.8

    Depreciation

0.4

0.4

-

-

-

Depreciation/Amortization

0.4

0.4

-

-

-

    Loss (Gain) on Sale of Assets - Operating

0.0

-0.1

-

-

-

    Other Unusual Expense (Income)

0.0

0.0

-

-

-

Unusual Expense (Income)

0.0

-0.1

-

-

-

    Other, Net

0.0

0.0

-0.3

-0.4

0.1

Other Operating Expenses, Total

0.0

0.0

-0.3

-0.4

0.1

Total Operating Expense

44.4

39.1

32.0

27.5

20.8

 

 

 

 

 

 

Operating Income

11.0

9.4

9.0

6.3

3.3

 

 

 

 

 

 

        Interest Expense - Non-Operating

-1.0

-1.2

-1.8

-1.8

-1.9

    Interest Expense, Net Non-Operating

-1.0

-1.2

-1.8

-1.8

-1.9

        Interest Income - Non-Operating

0.1

0.2

0.2

0.2

0.3

    Interest/Investment Income - Non-Operating

0.1

0.2

0.2

0.2

0.3

    Interest Income (Expense) - Net Non-Operating

-

-

0.2

-

-

Interest Income (Expense) - Net Non-Operating Total

-0.8

-1.0

-1.5

-1.6

-1.6

    Other Non-Operating Income (Expense)

-0.1

0.0

-

-

-

Other, Net

-0.1

0.0

-

-

-

Income Before Tax

10.0

8.4

7.5

4.6

1.6

 

 

 

 

 

 

Total Income Tax

0.0

0.2

0.0

0.0

0.0

Income After Tax

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Net Income Before Extraord Items

10.0

8.2

7.5

4.6

1.6

Net Income

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

110.3

105.0

110.3

78.1

55.1

Basic EPS Excl Extraord Items

0.09

0.08

0.07

0.06

0.03

Basic/Primary EPS Incl Extraord Items

0.09

0.08

0.07

0.06

0.03

Diluted Net Income

10.0

8.2

7.5

4.6

1.6

Diluted Weighted Average Shares

110.3

105.0

110.3

78.1

55.1

Diluted EPS Excl Extraord Items

0.09

0.08

0.07

0.06

0.03

Diluted EPS Incl Extraord Items

0.09

0.08

0.07

0.06

0.03

Dividends per Share - Common Stock Primary Issue

0.03

0.02

-

-

-

Gross Dividends - Common Stock

3.3

2.7

-

-

-

Interest Expense, Supplemental

1.0

1.2

1.8

1.8

1.9

Depreciation, Supplemental

2.5

2.4

2.2

1.5

1.6

Total Special Items

0.0

-0.1

0.0

0.0

-

Normalized Income Before Tax

10.0

8.3

7.5

4.6

1.6

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

0.0

0.0

0.0

-

Inc Tax Ex Impact of Sp Items

0.0

0.2

0.0

0.0

0.0

Normalized Income After Tax

10.0

8.1

7.5

4.6

1.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

10.0

8.1

7.5

4.6

1.6

 

 

 

 

 

 

Basic Normalized EPS

0.09

0.08

0.07

0.06

0.03

Diluted Normalized EPS

0.09

0.08

0.07

0.06

0.03

Rental Expenses

1.9

1.4

1.0

0.4

0.3

Advertising Expense, Supplemental

0.9

1.0

0.9

0.5

0.4

Normalized EBIT

11.0

9.4

9.0

6.3

3.3

Normalized EBITDA

13.5

11.8

11.2

7.8

4.8

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate

0.385

0.385

0.38495

0.38505

0.385

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

MOOR STEPHENS

Moore Stephens

MOOR STEPHENS

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

2.1

2.1

8.1

6.0

5.7

    Short Term Investments

5.2

5.2

-

-

-

Cash and Short Term Investments

7.4

7.4

8.1

6.0

5.7

        Accounts Receivable - Trade, Gross

10.7

10.3

8.9

6.3

4.8

        Provision for Doubtful Accounts

-0.2

-0.1

-0.1

-0.1

0.0

    Trade Accounts Receivable - Net

10.5

10.2

8.9

6.2

4.8

    Other Receivables

1.7

0.5

0.5

1.3

0.4

Total Receivables, Net

12.2

10.7

9.4

7.5

5.2

    Inventories - Finished Goods

1.6

1.2

2.6

0.9

0.9

    Inventories - Raw Materials

6.8

6.7

7.7

6.4

4.3

    Inventories - Other

0.7

0.7

0.7

0.5

0.4

Total Inventory

9.1

8.5

11.0

7.8

5.6

Prepaid Expenses

0.2

0.3

0.1

0.0

0.0

Total Current Assets

28.8

26.9

28.6

21.3

16.5

 

 

 

 

 

 

        Buildings

25.8

25.7

25.2

10.2

10.1

        Land/Improvements

1.5

1.5

-

-

-

        Machinery/Equipment

28.1

27.7

27.1

21.8

20.8

        Construction in Progress

5.0

-

0.0

15.3

0.7

    Property/Plant/Equipment - Gross

60.4

55.0

52.3

47.3

31.7

    Accumulated Depreciation

-14.1

-11.6

-9.5

-7.3

-5.8

Property/Plant/Equipment - Net

46.3

43.4

42.8

40.0

25.9

    LT Investments - Other

0.1

0.1

-

-

-

Long Term Investments

0.1

0.1

-

-

-

Total Assets

75.3

70.4

71.4

61.3

42.4

 

 

 

 

 

 

Payable/Accrued

4.6

4.0

4.2

6.3

2.4

Accrued Expenses

1.7

1.3

-

-

-

Notes Payable/Short Term Debt

6.4

5.3

6.5

3.8

5.8

Current Portion - Long Term Debt/Capital Leases

0.0

0.1

1.3

0.1

0.0

    Income Taxes Payable

0.0

0.2

-

-

-

Other Current liabilities, Total

0.0

0.2

-

-

-

Total Current Liabilities

12.7

10.8

12.0

10.2

8.3

 

 

 

 

 

 

    Long Term Debt

17.7

22.2

27.8

26.9

27.6

    Capital Lease Obligations

0.0

0.1

-

-

-

Total Long Term Debt

17.7

22.2

27.8

26.9

27.6

Total Debt

24.2

27.6

35.5

30.8

33.5

 

 

 

 

 

 

    Pension Benefits - Underfunded

0.4

0.3

0.2

0.1

0.1

    Other Long Term Liabilities

-

-

0.0

0.2

-

Other Liabilities, Total

0.4

0.3

0.2

0.4

0.1

Total Liabilities

30.8

33.3

40.0

37.4

36.0

 

 

 

 

 

 

    Common Stock

27.3

26.0

26.0

26.0

13.0

Common Stock

27.3

26.0

26.0

26.0

13.0

Retained Earnings (Accumulated Deficit)

17.2

11.0

5.5

-2.1

-6.6

Total Equity

44.4

37.0

31.4

23.9

6.4

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

75.3

70.4

71.4

61.3

42.4

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

110.3

110.3

110.3

110.3

55.1

Total Common Shares Outstanding

110.3

110.3

110.3

110.3

55.1

Employees

-

-

-

242

230

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate (Period Average)

0.385032

0.385008

0.384999

0.384956

0.384897

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

MOOR STEPHENS

Moore Stephens

MOOR STEPHENS

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

10.0

8.4

7.5

4.6

1.6

    Depreciation

2.5

2.4

2.2

1.5

1.6

Depreciation/Depletion

2.5

2.4

2.2

1.5

1.6

    Other Non-Cash Items

1.0

1.2

1.4

1.3

1.8

Non-Cash Items

1.0

1.2

1.4

1.3

1.8

    Accounts Receivable

-1.4

-1.6

-2.0

-2.3

-1.7

    Inventories

-0.5

2.4

-3.1

-2.2

-1.2

    Accounts Payable

1.0

1.1

-2.3

1.9

0.5

    Other Operating Cash Flow

-1.0

-1.2

-1.3

-1.2

-1.7

Changes in Working Capital

-2.0

0.8

-8.7

-3.8

-4.1

Cash from Operating Activities

11.5

12.7

2.4

3.7

0.9

 

 

 

 

 

 

    Purchase of Fixed Assets

-5.5

-2.9

-5.1

-13.5

-1.1

Capital Expenditures

-5.5

-2.9

-5.1

-13.5

-1.1

    Sale of Fixed Assets

0.0

0.1

0.0

0.0

0.0

    Other Investing Cash Flow

0.0

-0.1

-3.7

-0.1

-1.5

Other Investing Cash Flow Items, Total

0.0

-0.1

-3.7

-0.1

-1.5

Cash from Investing Activities

-5.5

-3.0

-8.7

-13.6

-2.6

 

 

 

 

 

 

    Other Financing Cash Flow

-

-4.4

3.4

-1.0

-0.6

Financing Cash Flow Items

-

-4.4

3.4

-1.0

-0.6

    Cash Dividends Paid - Common

-2.6

-2.6

-

-

-

Total Cash Dividends Paid

-2.6

-2.6

-

-

-

Issuance (Retirement) of Stock, Net

-

-

0.0

13.0

-

        Long Term Debt Issued

3.3

-

-

-

0.0

        Long Term Debt Reduction

-8.5

-

-

-

0.0

    Long Term Debt, Net

-3.5

-3.5

1.3

-1.8

-0.3

Issuance (Retirement) of Debt, Net

-3.5

-3.5

1.3

-1.8

-0.3

Cash from Financing Activities

-6.1

-10.5

4.8

10.2

-0.9

 

 

 

 

 

 

Net Change in Cash

0.0

-0.8

-1.5

0.2

-2.6

 

 

 

 

 

 

Net Cash - Beginning Balance

2.1

2.9

4.4

4.2

6.8

Net Cash - Ending Balance

2.1

2.1

2.9

4.4

4.2

Cash Interest Paid

1.0

1.1

1.3

1.2

1.8

Cash Taxes Paid

0.1

0.0

-

-

-

 

 

Annual Income Statement

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate (Period Average)

0.385032

0.385008

0.384999

0.384956

0.384897

Auditor

PricewaterhouseCoopers LLP

MOOR STEPHENS

MOOR STEPHENS

Moore Stephens

MOOR STEPHENS

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales

55.4

48.6

41.0

33.8

24.1

Total Sale

55.4

48.6

41.0

33.8

24.1

 

 

 

 

 

 

    Cost of Sales

33.8

29.6

26.6

24.0

17.9

    Depreciation- COS

2.1

2.0

-

-

-

    Marketing & Distribution costs

3.4

2.9

3.7

2.3

1.8

    Employee Related Costs-M&D

1.6

1.2

-

-

-

    Advertisement & Sales Promotion

0.9

1.0

-

-

-

    Depreciation

0.1

0.0

-

-

-

    Administrative & Pre-Operative Expenses

0.9

0.9

2.0

1.7

1.1

    Employee Related Costs-G&A

1.4

1.3

-

-

-

    Depreciation

0.3

0.3

-

-

-

    Other Financial Charges

-

-

-0.3

-0.4

0.1

    Pre-Operating Expenses

0.0

0.0

-

-

-

    Other Operating Income

0.0

0.0

-

-

-

    Profit on Disposal of Equipment

0.0

-0.1

-

-

-

Total Operating Expense

44.4

39.1

32.0

27.5

20.8

 

 

 

 

 

 

    Interest Expenses

-1.0

-1.2

-1.8

-1.8

-1.9

    Interest Income

0.1

0.2

0.2

0.2

0.3

    Exchange Loss

-0.1

0.0

-

-

-

    Other Income

-

-

0.2

-

-

Net Income Before Taxes

10.0

8.4

7.5

4.6

1.6

 

 

 

 

 

 

Provision for Income Taxes

0.0

0.2

0.0

0.0

0.0

Net Income After Taxes

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Net Income Before Extra. Items

10.0

8.2

7.5

4.6

1.6

Net Income

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Basic Weighted Average Shares

110.3

105.0

110.3

78.1

55.1

Basic EPS Excluding ExtraOrdinary Items

0.09

0.08

0.07

0.06

0.03

Basic EPS Including ExtraOrdinary Items

0.09

0.08

0.07

0.06

0.03

Diluted Net Income

10.0

8.2

7.5

4.6

1.6

Diluted Weighted Average Shares

110.3

105.0

110.3

78.1

55.1

Diluted EPS Excluding ExtraOrd Items

0.09

0.08

0.07

0.06

0.03

Diluted EPS Including ExtraOrd Items

0.09

0.08

0.07

0.06

0.03

DPS-Common Stock

0.03

0.02

-

-

-

Gross Dividends - Common Stock

3.3

2.7

-

-

-

Normalized Income Before Taxes

10.0

8.3

7.5

4.6

1.6

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

0.0

0.2

0.0

0.0

0.0

Normalized Income After Taxes

10.0

8.1

7.5

4.6

1.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

10.0

8.1

7.5

4.6

1.6

 

 

 

 

 

 

Basic Normalized EPS

0.09

0.08

0.07

0.06

0.03

Diluted Normalized EPS

0.09

0.08

0.07

0.06

0.03

Depreciation

2.5

2.4

2.2

1.5

1.6

Interest Expenses

1.0

1.2

1.8

1.8

1.9

Rent Expense

1.9

1.4

1.0

0.4

0.3

Advertisement Expense

0.9

1.0

0.9

0.5

0.4

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate

0.385

0.385

0.38495

0.38505

0.385

Auditor

PricewaterhouseCoopers LLP

MOOR STEPHENS

MOOR STEPHENS

Moore Stephens

MOOR STEPHENS

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Bank Balances

2.1

2.1

8.1

6.0

5.7

    ST Deposits

5.2

5.2

-

-

-

    Raw Materials

4.3

4.3

5.2

5.0

2.5

    Biological Assets

2.4

2.4

2.5

1.5

1.8

    Finished Products

1.6

1.2

2.6

0.9

0.9

    Stores & Others

0.3

0.4

0.4

0.1

0.2

    Hutchable Eggs

0.4

0.3

0.3

0.4

0.2

    Trade Accounts Receivable

10.7

10.3

8.9

6.3

4.8

    Allowance for Credit Losses

-0.2

-0.1

-0.1

-0.1

0.0

    Prepayments

0.2

0.3

0.1

0.0

0.0

    Other Receivables

1.7

0.5

0.5

1.3

0.4

Total Current Assets

28.8

26.9

28.6

21.3

16.5

 

 

 

 

 

 

    Freehold Land

1.5

1.5

-

-

-

    Buildings

25.8

25.7

25.2

10.2

10.1

    Motor Vehicles

1.9

1.6

1.5

1.0

1.0

    Bore Wells

0.4

0.4

0.4

0.4

0.4

    Plant & Machinery

24.4

24.4

24.0

19.5

18.6

    Furniture & Fixtures

0.4

0.4

0.3

0.3

0.3

    Office Equipment

0.5

0.5

0.4

0.2

0.2

    Porta Cabins

0.5

0.5

0.5

0.4

0.4

    Const. in Progress

5.0

-

0.0

15.3

0.7

    Depreciation

-14.1

-11.6

-9.5

-7.3

-5.8

    Available for Sale Investment

0.1

0.1

-

-

-

Total Assets

75.3

70.4

71.4

61.3

42.4

 

 

 

 

 

 

    Due to Bank

1.9

0.2

3.7

2.3

4.2

    Payables & Accruals

4.6

4.0

4.2

6.3

2.4

    Income Tax Payable

0.0

0.2

-

-

-

    Accruals

1.7

1.3

-

-

-

    Term Loan

4.5

5.1

2.8

1.5

1.6

    Lease Finance

0.0

0.1

-

-

-

    Current Port. of LT Debt (Gov)

-

-

1.3

0.1

0.0

Total Current Liabilities

12.7

10.8

12.0

10.2

8.3

 

 

 

 

 

 

    Term Loans

15.5

19.5

27.8

26.9

27.6

    Deferred Government Grant

2.2

2.7

-

-

-

    Lease Finance

0.0

0.1

-

-

-

Total Long Term Debt

17.7

22.2

27.8

26.9

27.6

 

 

 

 

 

 

    Retentions Payable

-

-

0.0

0.2

-

    Employees Terminal Benefit

0.4

0.3

0.2

0.1

0.1

Total Liabilities

30.8

33.3

40.0

37.4

36.0

 

 

 

 

 

 

    Share Capital

27.3

26.0

26.0

26.0

13.0

    Special Reserve

-

-

-

0.0

0.1

    Legal Reserve

3.3

2.3

1.4

0.7

0.2

    Accumulated results

13.9

8.8

4.0

-2.8

-6.9

Total Equity

44.4

37.0

31.4

23.9

6.4

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

75.3

70.4

71.4

61.3

42.4

 

 

 

 

 

 

    S/O-Common Stock

110.3

110.3

110.3

110.3

55.1

Total Common Shares Outstanding

110.3

110.3

110.3

110.3

55.1

Full-Time Employees

-

-

-

242

230

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate (Period Average)

0.385032

0.385008

0.384999

0.384956

0.384897

Auditor

PricewaterhouseCoopers LLP

MOOR STEPHENS

MOOR STEPHENS

Moore Stephens

MOOR STEPHENS

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

10.0

8.4

7.5

4.6

1.6

    Depreciation

2.5

2.4

2.2

1.5

1.6

    Interest income

-0.1

-

-

-

-

    Finance Cost/(Income)

1.0

1.1

1.3

1.2

1.8

    Loss on Disposal of Equipment

0.0

-0.1

0.0

0.0

0.0

    Employees Terminal Benefits

0.2

0.1

0.1

0.1

0.0

    Employees' Benefits Paid

0.0

0.0

0.0

0.0

0.0

    Inventory

-0.5

2.4

-3.1

-2.2

-1.2

    Rcvbls/Prepayments

-1.4

-1.6

-2.0

-2.3

-1.7

    Payables & Accruals

1.0

1.1

-2.3

1.9

0.5

    Income Tax Paid

-0.1

0.0

-

-

-

    Interest Paid

-0.9

-

-

-

-

    Interest received

0.1

-

-

-

-

    Allowance for Credit Losses

-

0.0

0.0

0.0

0.0

    Bad Debts Written Off

-

0.0

0.0

0.0

-

    Finance Charges Paid

-

-1.1

-1.3

-1.2

-1.8

Cash from Operating Activities

11.5

12.7

2.4

3.7

0.9

 

 

 

 

 

 

    Capital Expenditure

-5.5

-2.9

-5.1

-13.5

-1.1

    Rights Issue Expenses

-

-

0.0

-0.1

-

    Investment in AFS Asset

0.0

-0.1

-

-

-

    Bank/ Margin Deposits

0.0

0.0

-3.7

-0.1

-1.5

    Proceeds from Disposal of Equipment

0.0

0.1

0.0

0.0

0.0

Cash from Investing Activities

-5.5

-3.0

-8.7

-13.6

-2.6

 

 

 

 

 

 

    Equity Increase

-

-

0.0

13.0

-

    Overdraft/Due to Banks

-

-

0.0

-0.1

-

    Due to Bank

1.7

-3.5

1.3

-1.8

-0.3

    Loan from Related Party Repaid

-4.7

-

-

-

0.0

    Long Term Loans Received

3.3

-

-

-

0.0

    Finance Lease Creditors Paid

-0.1

-

-

-

0.0

    Long Term Loans Repaid

-3.7

-

-

-

0.0

    Term Loans

-

-4.4

3.4

-0.9

-0.6

    Dividend Paid

-2.6

-2.6

-

-

-

Cash from Financing Activities

-6.1

-10.5

4.8

10.2

-0.9

 

 

 

 

 

 

Net Change in Cash

0.0

-0.8

-1.5

0.2

-2.6

 

 

 

 

 

 

Beginning Balance

2.1

2.9

4.4

4.2

6.8

Ending Balance

2.1

2.1

2.9

4.4

4.2

    Cash Interest Paid

1.0

1.1

1.3

1.2

1.8

    Cash Taxes Paid

0.1

0.0

-

-

-

 

 

Financial Health

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

Key Indicators USD (mil)

 

Quarter
Ending
31-Mar-2012

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2011

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Sale1

15.2

14.59%

55.4

14.08%

17.89%

27.28%

Operating Income1

3.0

11.09%

11.0

16.28%

20.46%

45.08%

Income Available to Common Excl Extraord Items1

2.8

30.15%

10.0

22.16%

29.32%

100.12%

Basic EPS Excl Extraord Items1

0.02

29.73%

0.09

16.33%

15.25%

73.81%

Capital Expenditures2

3.3

5,816.29%

5.5

87.99%

-25.79%

80.05%

Cash from Operating Activities2

4.1

936.20%

11.5

-9.43%

46.30%

-

Free Cash Flow

0.9

148.66%

6.0

-38.50%

-

-

Total Assets3

84.7

14.13%

75.3

6.97%

7.08%

12.95%

Total Liabilities3

40.8

8.27%

30.8

-7.50%

-6.23%

-3.14%

Total Long Term Debt3

21.8

4.57%

17.7

-20.30%

-12.92%

-8.97%

Total Common Shares Outstanding3

110.3

0.00%

110.3

0.00%

0.00%

14.87%

1-ExchangeRate: OMR to USD Average for Period

0.385046

 

0.385032

 

 

 

2-ExchangeRate: OMR to USD Average for Period

0.385046

 

0.385032

 

 

 

3-ExchangeRate: OMR to USD Period End Date

0.385025

 

0.385000

 

 

 

Key Ratios

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Profitability

Gross Margin

35.14%

34.89%

35.07%

29.15%

25.82%

Operating Margin

19.80%

19.42%

21.88%

18.56%

13.62%

Pretax Margin

18.06%

17.20%

18.34%

13.68%

6.77%

Net Profit Margin

18.06%

16.86%

18.34%

13.68%

6.77%

Financial Strength

Current Ratio

2.27

2.48

2.38

2.09

1.99

Long Term Debt/Equity

0.40

0.60

0.88

1.12

4.32

Total Debt/Equity

0.54

0.75

1.13

1.29

5.23

Management Effectiveness

Return on Assets

13.74%

11.55%

11.33%

8.92%

3.91%

Return on Equity

24.57%

23.93%

27.17%

30.53%

29.21%

Efficiency

Receivables Turnover

4.83

4.84

4.87

5.34

5.66

Inventory Turnover

4.07

3.24

2.83

3.56

3.56

Asset Turnover

0.76

0.69

0.62

0.65

0.58

Market Valuation USD (mil)

P/E (TTM)

13.32

.

Enterprise Value2

160.8

Price/Sales (TTM)

2.47

.

Enterprise Value/Sale (TTM)

2.81

Price/Book (MRQ)

3.23

.

Enterprise Value/EBITDA (TTM)

11.68

Market Cap as of 28-Jun-20121

141.8

.

 

 

1-ExchangeRate: OMR to USD on 28-Jun-2012

0.385000

 

 

 

2-ExchangeRate: OMR to USD on 31-Mar-2012

0.385025

 

 

 

 

 

Annual Ratios

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Financial Strength

Current Ratio

2.27

2.48

2.38

2.09

1.99

Quick/Acid Test Ratio

1.54

1.67

1.46

1.32

1.31

Working Capital1

16.1

16.1

16.6

11.1

8.2

Long Term Debt/Equity

0.40

0.60

0.88

1.12

4.32

Total Debt/Equity

0.54

0.75

1.13

1.29

5.23

Long Term Debt/Total Capital

0.26

0.34

0.41

0.49

0.69

Total Debt/Total Capital

0.35

0.43

0.53

0.56

0.84

Payout Ratio

32.66%

31.67%

-

-

-

Effective Tax Rate

0.00%

1.96%

0.00%

0.00%

0.00%

Total Capital1

68.6

64.6

67.0

54.7

39.9

 

 

 

 

 

 

Efficiency

Asset Turnover

0.76

0.69

0.62

0.65

0.58

Inventory Turnover

4.07

3.24

2.83

3.56

3.56

Days In Inventory

89.58

112.70

129.04

102.57

102.43

Receivables Turnover

4.83

4.84

4.87

5.34

5.66

Days Receivables Outstanding

75.49

75.43

74.92

68.34

64.53

Sale/Employee2

-

-

-

139,683

104,754

Operating Income/Employee2

-

-

-

25,928

14,263

EBITDA/Employee2

-

-

-

32,206

21,039

 

 

 

 

 

 

Profitability

Gross Margin

35.14%

34.89%

35.07%

29.15%

25.82%

Operating Margin

19.80%

19.42%

21.88%

18.56%

13.62%

EBITDA Margin

24.32%

24.35%

27.33%

23.06%

20.08%

EBIT Margin

19.80%

19.42%

21.88%

18.56%

13.62%

Pretax Margin

18.06%

17.20%

18.34%

13.68%

6.77%

Net Profit Margin

18.06%

16.86%

18.34%

13.68%

6.77%

COGS/Sale

64.86%

65.11%

64.93%

70.85%

74.18%

SG&A Expense/Sale

14.72%

14.90%

13.95%

11.77%

11.69%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

13.74%

11.55%

11.33%

8.92%

3.91%

Return on Equity

24.57%

23.93%

27.17%

30.53%

29.21%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

0.05

0.09

-0.02

-0.09

0.00

Operating Cash Flow/Share 2

0.10

0.12

0.02

0.03

0.02

1-ExchangeRate: OMR to USD Period End Date

0.385

0.385

0.38495

0.38505

0.385

2-ExchangeRate: OMR to USD Average for Period

0.385

0.385

0.38495

0.38505

0.385

 

Current Market Multiples

Market Cap/Earnings (TTM)

13.32

Market Cap/Equity (MRQ)

3.23

Market Cap/Sale (TTM)

2.47

Market Cap/EBIT (TTM)

12.58

Market Cap/EBITDA (TTM)

10.29

Enterprise Value/Earnings (TTM)

15.11

Enterprise Value/Equity (MRQ)

3.66

Enterprise Value/Sale (TTM)

2.81

Enterprise Value/EBIT (TTM)

14.28

Enterprise Value/EBITDA (TTM)

11.68

 

 

Annual Income Statement

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate (Period Average)

0.385032

0.385008

0.384999

0.384956

0.384897

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

MOOR STEPHENS

Moore Stephens

MOOR STEPHENS

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

55.4

48.6

41.0

33.8

24.1

Sale

55.4

48.6

41.0

33.8

24.1

Total Sale

55.4

48.6

41.0

33.8

24.1

 

 

 

 

 

 

    Cost of Sale

35.9

31.6

26.6

24.0

17.9

Cost of Sale, Total

35.9

31.6

26.6

24.0

17.9

Gross Profit

19.5

16.9

14.4

9.9

6.2

 

 

 

 

 

 

    Selling/General/Administrative Expense

4.3

3.8

5.7

4.0

2.8

    Labor & Related Expense

3.0

2.5

-

-

-

    Advertising Expense

0.9

1.0

-

-

-

Total Selling/General/Administrative Expenses

8.2

7.2

5.7

4.0

2.8

    Depreciation

0.4

0.4

-

-

-

Depreciation/Amortization

0.4

0.4

-

-

-

    Loss (Gain) on Sale of Assets - Operating

0.0

-0.1

-

-

-

    Other Unusual Expense (Income)

0.0

0.0

-

-

-

Unusual Expense (Income)

0.0

-0.1

-

-

-

    Other, Net

0.0

0.0

-0.3

-0.4

0.1

Other Operating Expenses, Total

0.0

0.0

-0.3

-0.4

0.1

Total Operating Expense

44.4

39.1

32.0

27.5

20.8

 

 

 

 

 

 

Operating Income

11.0

9.4

9.0

6.3

3.3

 

 

 

 

 

 

        Interest Expense - Non-Operating

-1.0

-1.2

-1.8

-1.8

-1.9

    Interest Expense, Net Non-Operating

-1.0

-1.2

-1.8

-1.8

-1.9

        Interest Income - Non-Operating

0.1

0.2

0.2

0.2

0.3

    Interest/Investment Income - Non-Operating

0.1

0.2

0.2

0.2

0.3

    Interest Income (Expense) - Net Non-Operating

-

-

0.2

-

-

Interest Income (Expense) - Net Non-Operating Total

-0.8

-1.0

-1.5

-1.6

-1.6

    Other Non-Operating Income (Expense)

-0.1

0.0

-

-

-

Other, Net

-0.1

0.0

-

-

-

Income Before Tax

10.0

8.4

7.5

4.6

1.6

 

 

 

 

 

 

Total Income Tax

0.0

0.2

0.0

0.0

0.0

Income After Tax

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Net Income Before Extraord Items

10.0

8.2

7.5

4.6

1.6

Net Income

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

110.3

105.0

110.3

78.1

55.1

Basic EPS Excl Extraord Items

0.09

0.08

0.07

0.06

0.03

Basic/Primary EPS Incl Extraord Items

0.09

0.08

0.07

0.06

0.03

Diluted Net Income

10.0

8.2

7.5

4.6

1.6

Diluted Weighted Average Shares

110.3

105.0

110.3

78.1

55.1

Diluted EPS Excl Extraord Items

0.09

0.08

0.07

0.06

0.03

Diluted EPS Incl Extraord Items

0.09

0.08

0.07

0.06

0.03

Dividends per Share - Common Stock Primary Issue

0.03

0.02

-

-

-

Gross Dividends - Common Stock

3.3

2.7

-

-

-

Interest Expense, Supplemental

1.0

1.2

1.8

1.8

1.9

Depreciation, Supplemental

2.5

2.4

2.2

1.5

1.6

Total Special Items

0.0

-0.1

0.0

0.0

-

Normalized Income Before Tax

10.0

8.3

7.5

4.6

1.6

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

0.0

0.0

0.0

-

Inc Tax Ex Impact of Sp Items

0.0

0.2

0.0

0.0

0.0

Normalized Income After Tax

10.0

8.1

7.5

4.6

1.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

10.0

8.1

7.5

4.6

1.6

 

 

 

 

 

 

Basic Normalized EPS

0.09

0.08

0.07

0.06

0.03

Diluted Normalized EPS

0.09

0.08

0.07

0.06

0.03

Rental Expenses

1.9

1.4

1.0

0.4

0.3

Advertising Expense, Supplemental

0.9

1.0

0.9

0.5

0.4

Normalized EBIT

11.0

9.4

9.0

6.3

3.3

Normalized EBITDA

13.5

11.8

11.2

7.8

4.8

 

Interim Income Statement

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate (Period Average)

0.385046

0.385019

0.385015

0.385023

0.385072

 

 

 

 

 

 

    Net Sales

15.2

14.0

14.6

13.6

13.2

Sale

15.2

14.0

14.6

13.6

13.2

Total Sale

15.2

14.0

14.6

13.6

13.2

 

 

 

 

 

 

    Cost of Sale

10.0

8.9

9.8

8.4

8.8

Cost of Sale, Total

10.0

8.9

9.8

8.4

8.8

Gross Profit

5.1

5.1

4.8

5.2

4.5

 

 

 

 

 

 

    Selling/General/Administrative Expense

2.2

2.4

2.3

2.0

1.8

Total Selling/General/Administrative Expenses

2.2

2.4

2.3

2.0

1.8

    Other Operating Expense

-

0.0

-

-

-

    Other, Net

-

0.0

-

-

-

Other Operating Expenses, Total

-

0.0

-

-

-

Total Operating Expense

12.2

11.3

12.1

10.5

10.6

 

 

 

 

 

 

Operating Income

3.0

2.7

2.5

3.1

2.7

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.2

-0.2

-0.3

-0.2

-0.3

    Interest Expense, Net Non-Operating

-0.2

-0.2

-0.3

-0.2

-0.3

        Interest Income - Non-Operating

-

0.1

-

-

-

    Interest/Investment Income - Non-Operating

-

0.1

-

-

-

Interest Income (Expense) - Net Non-Operating Total

-0.2

-0.1

-0.3

-0.2

-0.3

    Other Non-Operating Income (Expense)

-

-0.1

-

-

-

Other, Net

-

-0.1

-

-

-

Income Before Tax

2.8

2.4

2.2

3.0

2.4

 

 

 

 

 

 

Total Income Tax

0.0

-0.9

0.3

0.3

0.3

Income After Tax

2.8

3.3

1.9

2.7

2.1

 

 

 

 

 

 

Net Income Before Extraord Items

2.8

3.3

1.9

2.7

2.1

Net Income

2.8

3.3

1.9

2.7

2.1

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

2.8

3.3

1.9

2.7

2.1

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

2.8

3.3

1.9

2.7

2.1

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

110.3

110.3

110.3

110.3

110.3

Basic EPS Excl Extraord Items

0.02

0.03

0.02

0.02

0.02

Basic/Primary EPS Incl Extraord Items

0.02

0.03

0.02

0.02

0.02

Diluted Net Income

2.8

3.3

1.9

2.7

2.1

Diluted Weighted Average Shares

110.3

110.3

110.3

110.3

110.3

Diluted EPS Excl Extraord Items

0.02

0.03

0.02

0.02

0.02

Diluted EPS Incl Extraord Items

0.02

0.03

0.02

0.02

0.02

Dividends per Share - Common Stock Primary Issue

0.00

0.03

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

3.3

0.0

0.0

0.0

Interest Expense, Supplemental

0.2

957.7

0.3

0.2

0.3

Depreciation, Supplemental

0.6

0.6

0.6

0.6

0.6

Normalized Income Before Tax

2.8

2.4

2.2

3.0

2.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

0.0

-0.9

0.3

0.3

0.3

Normalized Income After Tax

2.8

3.3

1.9

2.7

2.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

2.8

3.3

1.9

2.7

2.1

 

 

 

 

 

 

Basic Normalized EPS

0.02

0.03

0.02

0.02

0.02

Diluted Normalized EPS

0.02

0.03

0.02

0.02

0.02

Normalized EBIT

3.0

2.7

2.5

3.1

2.7

Normalized EBITDA

3.6

3.2

3.2

3.8

3.3

 

 

Annual Balance Sheet

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate

0.385

0.385

0.38495

0.38505

0.385

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

MOOR STEPHENS

Moore Stephens

MOOR STEPHENS

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

2.1

2.1

8.1

6.0

5.7

    Short Term Investments

5.2

5.2

-

-

-

Cash and Short Term Investments

7.4

7.4

8.1

6.0

5.7

        Accounts Receivable - Trade, Gross

10.7

10.3

8.9

6.3

4.8

        Provision for Doubtful Accounts

-0.2

-0.1

-0.1

-0.1

0.0

    Trade Accounts Receivable - Net

10.5

10.2

8.9

6.2

4.8

    Other Receivables

1.7

0.5

0.5

1.3

0.4

Total Receivables, Net

12.2

10.7

9.4

7.5

5.2

    Inventories - Finished Goods

1.6

1.2

2.6

0.9

0.9

    Inventories - Raw Materials

6.8

6.7

7.7

6.4

4.3

    Inventories - Other

0.7

0.7

0.7

0.5

0.4

Total Inventory

9.1

8.5

11.0

7.8

5.6

Prepaid Expenses

0.2

0.3

0.1

0.0

0.0

Total Current Assets

28.8

26.9

28.6

21.3

16.5

 

 

 

 

 

 

        Buildings

25.8

25.7

25.2

10.2

10.1

        Land/Improvements

1.5

1.5

-

-

-

        Machinery/Equipment

28.1

27.7

27.1

21.8

20.8

        Construction in Progress

5.0

-

0.0

15.3

0.7

    Property/Plant/Equipment - Gross

60.4

55.0

52.3

47.3

31.7

    Accumulated Depreciation

-14.1

-11.6

-9.5

-7.3

-5.8

Property/Plant/Equipment - Net

46.3

43.4

42.8

40.0

25.9

    LT Investments - Other

0.1

0.1

-

-

-

Long Term Investments

0.1

0.1

-

-

-

Total Assets

75.3

70.4

71.4

61.3

42.4

 

 

 

 

 

 

Payable/Accrued

4.6

4.0

4.2

6.3

2.4

Accrued Expenses

1.7

1.3

-

-

-

Notes Payable/Short Term Debt

6.4

5.3

6.5

3.8

5.8

Current Portion - Long Term Debt/Capital Leases

0.0

0.1

1.3

0.1

0.0

    Income Taxes Payable

0.0

0.2

-

-

-

Other Current liabilities, Total

0.0

0.2

-

-

-

Total Current Liabilities

12.7

10.8

12.0

10.2

8.3

 

 

 

 

 

 

    Long Term Debt

17.7

22.2

27.8

26.9

27.6

    Capital Lease Obligations

0.0

0.1

-

-

-

Total Long Term Debt

17.7

22.2

27.8

26.9

27.6

Total Debt

24.2

27.6

35.5

30.8

33.5

 

 

 

 

 

 

    Pension Benefits - Underfunded

0.4

0.3

0.2

0.1

0.1

    Other Long Term Liabilities

-

-

0.0

0.2

-

Other Liabilities, Total

0.4

0.3

0.2

0.4

0.1

Total Liabilities

30.8

33.3

40.0

37.4

36.0

 

 

 

 

 

 

    Common Stock

27.3

26.0

26.0

26.0

13.0

Common Stock

27.3

26.0

26.0

26.0

13.0

Retained Earnings (Accumulated Deficit)

17.2

11.0

5.5

-2.1

-6.6

Total Equity

44.4

37.0

31.4

23.9

6.4

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

75.3

70.4

71.4

61.3

42.4

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

110.3

110.3

110.3

110.3

55.1

Total Common Shares Outstanding

110.3

110.3

110.3

110.3

55.1

Employees

-

-

-

242

230

 

 

 

Interim Balance Sheet

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate

0.385025

0.385

0.38505

0.38505

0.385

 

 

 

 

 

 

    Cash & Equivalents

11.3

7.4

9.8

7.0

9.4

    Short Term Investments

0.1

-

0.1

0.1

0.1

Cash and Short Term Investments

11.4

7.4

10.0

7.1

9.5

        Accounts Receivable - Trade, Gross

13.4

10.7

12.2

11.3

11.0

        Provision for Doubtful Accounts

-0.2

-0.2

-0.1

-0.1

-0.1

    Trade Accounts Receivable - Net

14.2

12.4

12.2

11.2

10.9

Total Receivables, Net

14.2

12.4

12.2

11.2

10.9

    Inventories - Finished Goods

1.3

1.6

1.5

1.5

1.2

    Inventories - Raw Materials

6.9

6.8

5.4

8.4

9.1

    Inventories - Other

0.7

0.7

0.7

0.7

0.7

Total Inventory

8.9

9.1

7.5

10.6

11.0

Total Current Assets

34.5

28.8

29.6

28.9

31.4

 

 

 

 

 

 

        Construction in Progress

7.6

-

1.1

0.1

0.0

        Other Property/Plant/Equipment

57.3

60.4

56.7

55.9

55.0

    Property/Plant/Equipment - Gross

64.9

60.4

57.7

56.0

55.0

    Accumulated Depreciation

-14.7

-14.1

-13.5

-12.9

-12.2

Property/Plant/Equipment - Net

50.1

46.3

44.2

43.1

42.8

    LT Investments - Other

-

0.1

-

-

-

Long Term Investments

-

0.1

-

-

-

Total Assets

84.7

75.3

73.9

72.1

74.2

 

 

 

 

 

 

Accounts Payable

4.2

-

-

-

3.2

Payable/Accrued

-

6.3

5.9

4.8

-

Accrued Expenses

2.0

-

-

-

1.8

Notes Payable/Short Term Debt

4.2

1.9

2.4

3.6

3.3

Current Portion - Long Term Debt/Capital Leases

4.5

4.6

4.1

4.1

5.2

    Dividends Payable

3.3

-

-

-

2.6

    Customer Advances

0.3

-

-

-

0.0

    Income Taxes Payable

0.0

0.0

0.9

0.6

0.4

Other Current liabilities, Total

3.6

0.0

0.9

0.6

3.0

Total Current Liabilities

18.5

12.7

13.3

13.2

16.5

 

 

 

 

 

 

    Long Term Debt

21.8

17.7

19.0

19.4

20.8

Total Long Term Debt

21.8

17.7

19.0

19.4

20.8

Total Debt

30.5

24.2

25.5

27.1

29.3

 

 

 

 

 

 

    Pension Benefits - Underfunded

0.5

0.4

0.4

0.3

0.3

Other Liabilities, Total

0.5

0.4

0.4

0.3

0.3

Total Liabilities

40.8

30.8

32.8

32.9

37.7

 

 

 

 

 

 

    Common Stock

28.6

27.3

27.3

27.3

27.3

Common Stock

28.6

27.3

27.3

27.3

27.3

Retained Earnings (Accumulated Deficit)

15.3

17.2

13.8

11.9

9.3

Total Equity

43.9

44.4

41.1

39.2

36.5

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

84.7

75.3

73.9

72.1

74.2

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

110.3

110.3

110.3

110.3

110.3

Total Common Shares Outstanding

110.3

110.3

110.3

110.3

110.3

Deferred Sale - Current

0.3

-

-

-

0.0

 

Annual Cash Flows

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal
31-Dec-2007

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate (Period Average)

0.385032

0.385008

0.384999

0.384956

0.384897

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

MOOR STEPHENS

Moore Stephens

MOOR STEPHENS

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

10.0

8.4

7.5

4.6

1.6

    Depreciation

2.5

2.4

2.2

1.5

1.6

Depreciation/Depletion

2.5

2.4

2.2

1.5

1.6

    Other Non-Cash Items

1.0

1.2

1.4

1.3

1.8

Non-Cash Items

1.0

1.2

1.4

1.3

1.8

    Accounts Receivable

-1.4

-1.6

-2.0

-2.3

-1.7

    Inventories

-0.5

2.4

-3.1

-2.2

-1.2

    Accounts Payable

1.0

1.1

-2.3

1.9

0.5

    Other Operating Cash Flow

-1.0

-1.2

-1.3

-1.2

-1.7

Changes in Working Capital

-2.0

0.8

-8.7

-3.8

-4.1

Cash from Operating Activities

11.5

12.7

2.4

3.7

0.9

 

 

 

 

 

 

    Purchase of Fixed Assets

-5.5

-2.9

-5.1

-13.5

-1.1

Capital Expenditures

-5.5

-2.9

-5.1

-13.5

-1.1

    Sale of Fixed Assets

0.0

0.1

0.0

0.0

0.0

    Other Investing Cash Flow

0.0

-0.1

-3.7

-0.1

-1.5

Other Investing Cash Flow Items, Total

0.0

-0.1

-3.7

-0.1

-1.5

Cash from Investing Activities

-5.5

-3.0

-8.7

-13.6

-2.6

 

 

 

 

 

 

    Other Financing Cash Flow

-

-4.4

3.4

-1.0

-0.6

Financing Cash Flow Items

-

-4.4

3.4

-1.0

-0.6

    Cash Dividends Paid - Common

-2.6

-2.6

-

-

-

Total Cash Dividends Paid

-2.6

-2.6

-

-

-

Issuance (Retirement) of Stock, Net

-

-

0.0

13.0

-

        Long Term Debt Issued

3.3

-

-

-

0.0

        Long Term Debt Reduction

-8.5

-

-

-

0.0

    Long Term Debt, Net

-3.5

-3.5

1.3

-1.8

-0.3

Issuance (Retirement) of Debt, Net

-3.5

-3.5

1.3

-1.8

-0.3

Cash from Financing Activities

-6.1

-10.5

4.8

10.2

-0.9

 

 

 

 

 

 

Net Change in Cash

0.0

-0.8

-1.5

0.2

-2.6

 

 

 

 

 

 

Net Cash - Beginning Balance

2.1

2.9

4.4

4.2

6.8

Net Cash - Ending Balance

2.1

2.1

2.9

4.4

4.2

Cash Interest Paid

1.0

1.1

1.3

1.2

1.8

Cash Taxes Paid

0.1

0.0

-

-

-

 

Interim Cash Flows

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

12 Months

9 Months

6 Months

3 Months

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate (Period Average)

0.385046

0.385032

0.385036

0.385048

0.385072

 

 

 

 

 

 

Net Income/Starting Line

2.8

10.0

6.7

4.8

2.1

    Depreciation

0.6

2.5

1.9

1.3

0.6

Depreciation/Depletion

0.6

2.5

1.9

1.3

0.6

    Other Non-Cash Items

0.2

1.0

0.7

0.4

0.3

Non-Cash Items

0.2

1.0

0.7

0.4

0.3

    Accounts Receivable

-3.0

-1.4

-1.2

-0.2

0.1

    Inventories

0.1

-0.5

1.0

-2.1

-2.5

    Accounts Payable

3.6

1.0

1.5

0.0

0.0

    Other Operating Cash Flow

-0.2

-1.0

-0.7

-0.4

-0.3

Changes in Working Capital

0.5

-2.0

0.6

-2.7

-2.6

Cash from Operating Activities

4.1

11.5

9.9

3.8

0.4

 

 

 

 

 

 

    Purchase of Fixed Assets

-3.3

-5.5

-2.8

-1.1

-0.1

Capital Expenditures

-3.3

-5.5

-2.8

-1.1

-0.1

    Sale of Fixed Assets

-

0.0

-

-

-

    Investment, Net

0.0

0.0

0.0

0.0

0.0

    Other Investing Cash Flow

-

0.0

-

-

-

Other Investing Cash Flow Items, Total

0.0

0.0

0.0

0.0

0.0

Cash from Investing Activities

-3.3

-5.5

-2.8

-1.1

-0.1

 

 

 

 

 

 

    Other Financing Cash Flow

4.1

-3.5

-4.3

-3.9

-1.4

Financing Cash Flow Items

4.1

-3.5

-4.3

-3.9

-1.4

    Cash Dividends Paid - Common

-3.3

-2.6

-2.6

-2.6

-

Total Cash Dividends Paid

-3.3

-2.6

-2.6

-2.6

-

Cash from Financing Activities

0.8

-6.1

-6.9

-6.5

-1.4

 

 

 

 

 

 

Net Change in Cash

1.6

0.0

0.2

-3.8

-1.1

 

 

 

 

 

 

Net Cash - Beginning Balance

5.5

2.1

7.2

7.2

7.2

Net Cash - Ending Balance

7.1

2.1

7.4

3.4

6.1

Cash Interest Paid

0.2

1.0

0.7

0.4

0.3

Cash Taxes Paid

-

0.1

-

-

-

 

Annual Income Statement

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2011

Updated Normal
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate (Period Average)

0.385032

0.385008

0.384999

0.384956

0.384897

Auditor

PricewaterhouseCoopers LLP

MOOR STEPHENS

MOOR STEPHENS

Moore Stephens

MOOR STEPHENS

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales

55.4

48.6

41.0

33.8

24.1

Total Sale

55.4

48.6

41.0

33.8

24.1

 

 

 

 

 

 

    Cost of Sales

33.8

29.6

26.6

24.0

17.9

    Depreciation- COS

2.1

2.0

-

-

-

    Marketing & Distribution costs

3.4

2.9

3.7

2.3

1.8

    Employee Related Costs-M&D

1.6

1.2

-

-

-

    Advertisement & Sales Promotion

0.9

1.0

-

-

-

    Depreciation

0.1

0.0

-

-

-

    Administrative & Pre-Operative Expenses

0.9

0.9

2.0

1.7

1.1

    Employee Related Costs-G&A

1.4

1.3

-

-

-

    Depreciation

0.3

0.3

-

-

-

    Other Financial Charges

-

-

-0.3

-0.4

0.1

    Pre-Operating Expenses

0.0

0.0

-

-

-

    Other Operating Income

0.0

0.0

-

-

-

    Profit on Disposal of Equipment

0.0

-0.1

-

-

-

Total Operating Expense

44.4

39.1

32.0

27.5

20.8

 

 

 

 

 

 

    Interest Expenses

-1.0

-1.2

-1.8

-1.8

-1.9

    Interest Income

0.1

0.2

0.2

0.2

0.3

    Exchange Loss

-0.1

0.0

-

-

-

    Other Income

-

-

0.2

-

-

Net Income Before Taxes

10.0

8.4

7.5

4.6

1.6

 

 

 

 

 

 

Provision for Income Taxes

0.0

0.2

0.0

0.0

0.0

Net Income After Taxes

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Net Income Before Extra. Items

10.0

8.2

7.5

4.6

1.6

Net Income

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

10.0

8.2

7.5

4.6

1.6

 

 

 

 

 

 

Basic Weighted Average Shares

110.3

105.0

110.3

78.1

55.1

Basic EPS Excluding ExtraOrdinary Items

0.09

0.08

0.07

0.06

0.03

Basic EPS Including ExtraOrdinary Items

0.09

0.08

0.07

0.06

0.03

Diluted Net Income

10.0

8.2

7.5

4.6

1.6

Diluted Weighted Average Shares

110.3

105.0

110.3

78.1

55.1

Diluted EPS Excluding ExtraOrd Items

0.09

0.08

0.07

0.06

0.03

Diluted EPS Including ExtraOrd Items

0.09

0.08

0.07

0.06

0.03

DPS-Common Stock

0.03

0.02

-

-

-

Gross Dividends - Common Stock

3.3

2.7

-

-

-

Normalized Income Before Taxes

10.0

8.3

7.5

4.6

1.6

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

0.0

0.2

0.0

0.0

0.0

Normalized Income After Taxes

10.0

8.1

7.5

4.6

1.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

10.0

8.1

7.5

4.6

1.6

 

 

 

 

 

 

Basic Normalized EPS

0.09

0.08

0.07

0.06

0.03

Diluted Normalized EPS

0.09

0.08

0.07

0.06

0.03

Depreciation

2.5

2.4

2.2

1.5

1.6

Interest Expenses

1.0

1.2

1.8

1.8

1.9

Rent Expense

1.9

1.4

1.0

0.4

0.3

Advertisement Expense

0.9

1.0

0.9

0.5

0.4

 

 

Interim Income Statement

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate (Period Average)

0.385046

0.385019

0.385015

0.385023

0.385072

 

 

 

 

 

 

    Sales

15.2

14.0

14.6

13.6

13.2

Total Sale

15.2

14.0

14.6

13.6

13.2

 

 

 

 

 

 

    Cost of Sales

10.0

8.9

9.8

8.4

8.8

    Marketing & Distribution costs

1.4

1.6

1.6

1.5

1.1

    Administrative & Pre-Operative Expenses

0.7

0.8

0.7

0.5

0.7

    Pre-Operating Expenses

-

0.0

-

-

-

    Operating Income

-

0.0

-

-

-

Total Operating Expense

12.2

11.3

12.1

10.5

10.6

 

 

 

 

 

 

    Financial Charges

-0.2

-0.2

-0.3

-0.2

-0.3

    Interest Income

-

0.1

-

-

-

    Exchange Loss-

-

-0.1

-

-

-

Net Income Before Taxes

2.8

2.4

2.2

3.0

2.4

 

 

 

 

 

 

Provision for Income Taxes

0.0

-0.9

0.3

0.3

0.3

Net Income After Taxes

2.8

3.3

1.9

2.7

2.1

 

 

 

 

 

 

Net Income Before Extra. Items

2.8

3.3

1.9

2.7

2.1

Net Income

2.8

3.3

1.9

2.7

2.1

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

2.8

3.3

1.9

2.7

2.1

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

2.8

3.3

1.9

2.7

2.1

 

 

 

 

 

 

Basic Weighted Average Shares

110.3

110.3

110.3

110.3

110.3

Basic EPS Excluding ExtraOrdinary Items

0.02

0.03

0.02

0.02

0.02

Basic EPS Including ExtraOrdinary Items

0.02

0.03

0.02

0.02

0.02

Diluted Net Income

2.8

3.3

1.9

2.7

2.1

Diluted Weighted Average Shares

110.3

110.3

110.3

110.3

110.3

Diluted EPS Excluding ExtraOrd Items

0.02

0.03

0.02

0.02

0.02

Diluted EPS Including ExtraOrd Items

0.02

0.03

0.02

0.02

0.02

DPS-Common Stock

0.00

0.03

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

3.3

0.0

0.0

0.0

Normalized Income Before Taxes

2.8

2.4

2.2

3.0

2.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

0.0

-0.9

0.3

0.3

0.3

Normalized Income After Taxes

2.8

3.3

1.9

2.7

2.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

2.8

3.3

1.9

2.7

2.1

 

 

 

 

 

 

Basic Normalized EPS

0.02

0.03

0.02

0.02

0.02

Diluted Normalized EPS

0.02

0.03

0.02

0.02

0.02

Depreciation & Amortization

0.6

0.6

0.6

0.6

0.6

Interest Expenses

0.2

957.7

0.3

0.2

0.3

 

 

 

Annual Balance Sheet

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate

0.385

0.385

0.38495

0.38505

0.385

Auditor

PricewaterhouseCoopers LLP

MOOR STEPHENS

MOOR STEPHENS

Moore Stephens

MOOR STEPHENS

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Bank Balances

2.1

2.1

8.1

6.0

5.7

    ST Deposits

5.2

5.2

-

-

-

    Raw Materials

4.3

4.3

5.2

5.0

2.5

    Biological Assets

2.4

2.4

2.5

1.5

1.8

    Finished Products

1.6

1.2

2.6

0.9

0.9

    Stores & Others

0.3

0.4

0.4

0.1

0.2

    Hutchable Eggs

0.4

0.3

0.3

0.4

0.2

    Trade Accounts Receivable

10.7

10.3

8.9

6.3

4.8

    Allowance for Credit Losses

-0.2

-0.1

-0.1

-0.1

0.0

    Prepayments

0.2

0.3

0.1

0.0

0.0

    Other Receivables

1.7

0.5

0.5

1.3

0.4

Total Current Assets

28.8

26.9

28.6

21.3

16.5

 

 

 

 

 

 

    Freehold Land

1.5

1.5

-

-

-

    Buildings

25.8

25.7

25.2

10.2

10.1

    Motor Vehicles

1.9

1.6

1.5

1.0

1.0

    Bore Wells

0.4

0.4

0.4

0.4

0.4

    Plant & Machinery

24.4

24.4

24.0

19.5

18.6

    Furniture & Fixtures

0.4

0.4

0.3

0.3

0.3

    Office Equipment

0.5

0.5

0.4

0.2

0.2

    Porta Cabins

0.5

0.5

0.5

0.4

0.4

    Const. in Progress

5.0

-

0.0

15.3

0.7

    Depreciation

-14.1

-11.6

-9.5

-7.3

-5.8

    Available for Sale Investment

0.1

0.1

-

-

-

Total Assets

75.3

70.4

71.4

61.3

42.4

 

 

 

 

 

 

    Due to Bank

1.9

0.2

3.7

2.3

4.2

    Payables & Accruals

4.6

4.0

4.2

6.3

2.4

    Income Tax Payable

0.0

0.2

-

-

-

    Accruals

1.7

1.3

-

-

-

    Term Loan

4.5

5.1

2.8

1.5

1.6

    Lease Finance

0.0

0.1

-

-

-

    Current Port. of LT Debt (Gov)

-

-

1.3

0.1

0.0

Total Current Liabilities

12.7

10.8

12.0

10.2

8.3

 

 

 

 

 

 

    Term Loans

15.5

19.5

27.8

26.9

27.6

    Deferred Government Grant

2.2

2.7

-

-

-

    Lease Finance

0.0

0.1

-

-

-

Total Long Term Debt

17.7

22.2

27.8

26.9

27.6

 

 

 

 

 

 

    Retentions Payable

-

-

0.0

0.2

-

    Employees Terminal Benefit

0.4

0.3

0.2

0.1

0.1

Total Liabilities

30.8

33.3

40.0

37.4

36.0

 

 

 

 

 

 

    Share Capital

27.3

26.0

26.0

26.0

13.0

    Special Reserve

-

-

-

0.0

0.1

    Legal Reserve

3.3

2.3

1.4

0.7

0.2

    Accumulated results

13.9

8.8

4.0

-2.8

-6.9

Total Equity

44.4

37.0

31.4

23.9

6.4

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

75.3

70.4

71.4

61.3

42.4

 

 

 

 

 

 

    S/O-Common Stock

110.3

110.3

110.3

110.3

55.1

Total Common Shares Outstanding

110.3

110.3

110.3

110.3

55.1

Full-Time Employees

-

-

-

242

230

 

 

 

Interim Balance Sheet

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate

0.385025

0.385

0.38505

0.38505

0.385

 

 

 

 

 

 

    Cash & Bank Balances

11.3

7.4

9.8

7.0

9.4

    Accounts Receivables

13.4

10.7

12.2

11.3

11.0

    Provision for Bad Debts

-0.2

-0.2

-0.1

-0.1

-0.1

    Rcvbls. & Prepayments

0.9

1.9

-

-

-

    Finished Products

1.3

1.6

1.5

1.5

1.2

    Raw Materials

4.3

4.3

2.9

5.9

6.6

    Hatchable Eggs

0.4

0.4

0.3

0.3

0.3

    Stores & Others

0.3

0.3

0.4

0.4

0.3

    Biological Assets

2.7

2.4

2.5

2.5

2.5

    Investments

0.1

-

0.1

0.1

0.1

Total Current Assets

34.5

28.8

29.6

28.9

31.4

 

 

 

 

 

 

    Property, Plant & Equipment

55.6

60.4

55.4

55.2

55.0

    Capital Advances

1.7

-

1.3

0.7

0.0

    Operative Expenses

-

-

-

0.0

-

    Work In Progress

7.6

-

1.1

0.1

0.0

    Depreciation

-14.7

-14.1

-13.5

-12.9

-12.2

    Available for Sale Investment

-

0.1

-

-

-

Total Assets

84.7

75.3

73.9

72.1

74.2

 

 

 

 

 

 

    Due to Bank

4.2

1.9

-

3.6

3.3

    Trade Payables - Total

-

6.3

5.9

4.8

-

    Creditors

4.2

-

-

-

3.2

    Dividends Payable

3.3

-

-

-

2.6

    Advances

0.3

-

-

-

0.0

    Accruals

2.0

-

-

-

1.8

    Current Portion of LT Debt

4.5

4.6

4.1

4.1

5.1

    Current Finance Lease

-

-

-

-

0.1

    ST Loans

-

-

2.4

-

-

    Taxation Payable

0.0

0.0

0.9

0.6

0.4

Total Current Liabilities

18.5

12.7

13.3

13.2

16.5

 

 

 

 

 

 

    Term Loans

21.8

17.7

19.0

19.4

20.8

    LT Finance Lease

-

-

-

-

0.0

Total Long Term Debt

21.8

17.7

19.0

19.4

20.8

 

 

 

 

 

 

    Employees Terminal Benefit

0.5

0.4

0.4

0.3

0.3

Total Liabilities

40.8

30.8

32.8

32.9

37.7

 

 

 

 

 

 

    Share Capital

28.6

27.3

27.3

27.3

27.3

    Special Reserve

-

-

-

0.0

0.0

    Legal Reserve

3.5

3.3

2.9

2.7

2.5

    Accumulated Results

11.7

13.9

10.9

9.2

6.8

Total Equity

43.9

44.4

41.1

39.2

36.5

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

84.7

75.3

73.9

72.1

74.2

 

 

 

 

 

 

    S/O-Common Stock

110.3

110.3

110.3

110.3

110.3

Total Common Shares Outstanding

110.3

110.3

110.3

110.3

110.3

Deferred Sale - Current

0.3

-

-

-

0.0

 

 

 

Annual Cash Flows

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate (Period Average)

0.385032

0.385008

0.384999

0.384956

0.384897

Auditor

PricewaterhouseCoopers LLP

MOOR STEPHENS

MOOR STEPHENS

Moore Stephens

MOOR STEPHENS

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

10.0

8.4

7.5

4.6

1.6

    Depreciation

2.5

2.4

2.2

1.5

1.6

    Interest income

-0.1

-

-

-

-

    Finance Cost/(Income)

1.0

1.1

1.3

1.2

1.8

    Loss on Disposal of Equipment

0.0

-0.1

0.0

0.0

0.0

    Employees Terminal Benefits

0.2

0.1

0.1

0.1

0.0

    Employees' Benefits Paid

0.0

0.0

0.0

0.0

0.0

    Inventory

-0.5

2.4

-3.1

-2.2

-1.2

    Rcvbls/Prepayments

-1.4

-1.6

-2.0

-2.3

-1.7

    Payables & Accruals

1.0

1.1

-2.3

1.9

0.5

    Income Tax Paid

-0.1

0.0

-

-

-

    Interest Paid

-0.9

-

-

-

-

    Interest received

0.1

-

-

-

-

    Allowance for Credit Losses

-

0.0

0.0

0.0

0.0

    Bad Debts Written Off

-

0.0

0.0

0.0

-

    Finance Charges Paid

-

-1.1

-1.3

-1.2

-1.8

Cash from Operating Activities

11.5

12.7

2.4

3.7

0.9

 

 

 

 

 

 

    Capital Expenditure

-5.5

-2.9

-5.1

-13.5

-1.1

    Rights Issue Expenses

-

-

0.0

-0.1

-

    Investment in AFS Asset

0.0

-0.1

-

-

-

    Bank/ Margin Deposits

0.0

0.0

-3.7

-0.1

-1.5

    Proceeds from Disposal of Equipment

0.0

0.1

0.0

0.0

0.0

Cash from Investing Activities

-5.5

-3.0

-8.7

-13.6

-2.6

 

 

 

 

 

 

    Equity Increase

-

-

0.0

13.0

-

    Overdraft/Due to Banks

-

-

0.0

-0.1

-

    Due to Bank

1.7

-3.5

1.3

-1.8

-0.3

    Loan from Related Party Repaid

-4.7

-

-

-

0.0

    Long Term Loans Received

3.3

-

-

-

0.0

    Finance Lease Creditors Paid

-0.1

-

-

-

0.0

    Long Term Loans Repaid

-3.7

-

-

-

0.0

    Term Loans

-

-4.4

3.4

-0.9

-0.6

    Dividend Paid

-2.6

-2.6

-

-

-

Cash from Financing Activities

-6.1

-10.5

4.8

10.2

-0.9

 

 

 

 

 

 

Net Change in Cash

0.0

-0.8

-1.5

0.2

-2.6

 

 

 

 

 

 

Beginning Balance

2.1

2.9

4.4

4.2

6.8

Ending Balance

2.1

2.1

2.9

4.4

4.2

    Cash Interest Paid

1.0

1.1

1.3

1.2

1.8

    Cash Taxes Paid

0.1

0.0

-

-

-

 

Interim Cash Flows

As Reported

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

12 Months

9 Months

6 Months

3 Months

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

OMR

OMR

OMR

OMR

OMR

Exchange Rate (Period Average)

0.385046

0.385032

0.385036

0.385048

0.385072

 

 

 

 

 

 

Net Income/ Loss

2.8

10.0

6.7

4.8

2.1

    Depreciation

0.6

2.5

1.9

1.3

0.6

    Finance Cost/(Income)

0.2

-0.1

0.7

0.4

0.3

    Interest Expense

-

1.0

-

-

-

    Employees Terminal Benefits

-

0.2

-

-

-

    Rcvbls/Prepayments

-3.0

-1.4

-1.2

-0.2

0.1

    Inventory

0.1

-0.5

1.0

-2.1

-2.5

    Payables & Accruals

3.6

1.0

1.5

0.0

0.0

    Income Tax Paid

-

-0.1

-

-

-

    Interest Paid

-0.2

-0.9

-0.7

-0.4

-0.3

    Interest Received

-

0.1

-

-

-

    Loss on Disposal of Equipment

-

0.0

-

-

-

    Employees' Benefits Paid

-

0.0

-

-

-

Cash from Operating Activities

4.1

11.5

9.9

3.8

0.4

 

 

 

 

 

 

    Capital Expenditure

-3.3

-5.5

-2.8

-1.1

-0.1

    Investment

0.0

0.0

0.0

0.0

0.0

    Bank/ Margin Deposits

-

0.0

-

-

-

    Proceeds from Disposal of Equipment

-

0.0

-

-

-

Cash from Investing Activities

-3.3

-5.5

-2.8

-1.1

-0.1

 

 

 

 

 

 

    Overdraft/Due to Banks

-

1.7

-

-

-

    Dividend Paid

-3.3

-2.6

-2.6

-2.6

-

    Term Loans

4.1

-5.2

-4.3

-3.9

-1.4

Cash from Financing Activities

0.8

-6.1

-6.9

-6.5

-1.4

 

 

 

 

 

 

Net Change in Cash

1.6

0.0

0.2

-3.8

-1.1

 

 

 

 

 

 

Beginning Balance

5.5

2.1

7.2

7.2

7.2

Ending Balance

7.1

2.1

7.4

3.4

6.1

    Cash Interest Paid

0.2

1.0

0.7

0.4

0.3

    Cash Taxes Paid

-

0.1

-

-

-

 

 

 

Geographic Segments

 

Financials in: As Reported (mil)

Annual             

 

External Sale   USD (mil)

 

31-Dec-11

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Oman

39.7

71.7 %

28.9

59.6 %

26.3

64.1 %

27.3

80.8 %

17.5

72.8 %

GCC Countries

15.2

27.4 %

14.9

30.8 %

9.6

23.4 %

5.7

17 %

4.0

16.7 %

Others

0.5

0.8 %

4.7

9.6 %

5.1

12.4 %

0.8

2.3 %

2.5

10.5 %

Segment Total

55.4

100 %

48.6

100 %

41.0

100 %

33.8

100 %

24.1

100 %

Consolidated Total

55.4

100 %

48.6

100 %

41.0

100 %

33.8

100 %

24.1

100 %

Exchange Rate: OMR to USD

0.385032

 

0.385008

 

0.384999

 

0.384956

 

0.384897

 

Total Sale   USD (mil)

 

31-Dec-11

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Oman

39.7

71.7 %

28.9

59.6 %

26.3

64.1 %

27.3

80.8 %

17.5

72.8 %

GCC Countries

15.2

27.4 %

14.9

30.8 %

9.6

23.4 %

5.7

17 %

4.0

16.7 %

Others

0.5

0.8 %

4.7

9.6 %

5.1

12.4 %

0.8

2.3 %

2.5

10.5 %

Segment Total

55.4

100 %

48.6

100 %

41.0

100 %

33.8

100 %

24.1

100 %

Consolidated Total

55.4

100 %

48.6

100 %

41.0

100 %

33.8

100 %

24.1

100 %

Exchange Rate: OMR to USD

0.385032

 

0.385008

 

0.384999

 

0.384956

 

0.384897

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.37

UK Pound

1

Rs.85.95

Euro

1

Rs.67.87

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.