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Directors Report : English / Arabic Notes :
English / Arabic
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Directors Report on the half yearly results (unaudited)
for the Period May 2009 to October 2009. Dear Shareholders, On behalf of the Board, I am
presenting the six months unaudited results for the period May 2009 to October
2009. Sales for the six months period
May 2009 to October 2009 were Rials 1,198,000 compared to Rials 3,235,000 for
the same period last year. Gross loss for the period was (Rials 529,000)
compared to gross profit of Rials 847,000 for the same period last year. During first five months of the
current financial year, our dairy herds were affected severely by Lumpy Skin
Disease, which resulted in loss of animals, production and sales of fresh
milk. Loss due to death of animals was Rials 559,000, and operational loss
was Rials 649,000 Consequently the net loss for
the six months period May 2009 to October 2009 before taxation after
depreciation was (Rials 1,208,000) compared to net profit of Rials 42,000 for
the same period last year. Due to timely corrective action, the disease has now
been bought under control and at present there is no loss of animals. Due to this reason the milk production is
witnessing a gradual increase and it is expected that the overall operations
will reflect improvement going forward. 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 Yours faithfully, For Oman Agriculture
Developement Company (SAOG) Mohd
Suleiman Al Ismaily Chairman |
