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Directors Report : English / Arabic |
On behalf of the Board I have pleasure to submit the Audited results for the financial year ended April 30th, 2009.
The company recorded a Sales turnover of Rials Omani 5,746,298 for the financial year ended 30th April, 2009 as compared to Rials Omani 5,628,615 for the same period last year.
Gross profit for the current year was Rials Omani 1,423,371 as compared to Rials Omani 1,342,509 for the same period last year.
Net loss for the financial year ended 30th April, 2009 was Rials Omani 33,621 as compared to net loss of Rials Omani 52,962 for the same period last year.
Raw material prices used for plastic packaging were higher until the third quarter, also cattle feed and fodder prices were higher. In the third quarter the international oil prices decreased which resulted in 50% decline in packaging raw material prices. Cattle feed price also reduced by 12% during this period. Sales Distribution expenses decreased on account of reduction in discounts and schemes offered to super markets.
The lease agreement for the land is expiring in June 2010, and the company has requested the concerned Government authorities for another plot of land to relocate the company.
I have the greatest honour in extending my gratitude and respect to His Majesty Sultan Qaboos Bin Said, and his benevolent Government with prayers to God, the Almighty for blessing Oman and its citizens with all peace and progress under the great patronage of His Majesty Sultan Qaboos Bin Said.
Yours faithfully For Oman Agriculture Development Company (SAOG)
Mohammed Suleiman Al Ismaily Chairman |
