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Directors Report : English / Arabic Notes :
English / Arabic
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Directors Report on the nine months results (unaudited) for the Period May 2009 to January 2010.
Dear Shareholders,
On behalf of the Board, I am presenting the nine months unaudited results for the period May 2009 to January 2010.
Sales for the nine months period May 2009 to January 2010 were Rials 1,995,000 compared to Rials 4,503,000 for the same period last year. Gross loss for the period was (Rials 358,000) compared to gross profit of Rials 1,187,000 for the same period last year.
During first five months of the current financial year, loss of animals resulted in loss of production and sales of fresh milk, which amounted to Rials 559,000, and operational loss of Rials 920,000.
Consequently the net loss for the nine months period May 2009 to January 2010 before taxation after depreciation was (Rials 1,479,000) compared to net profit of Rials 25,000 for the same period last year.
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 Developement Company (SAOG)
Abdullah Zahran Al Balushi Chairman
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