Saturday 14 / November / 2026
Muscat: Food manufacturing companies listed on the Muscat Stock Exchange (MSX) recorded a 40 percent growth in net profits to OMR22.3 million in the first nine months of this year, compared to OMR15.9 million in the same period last year.
The companies attributed the rise in profits to improved sales, modernisation of production lines and expansion of production capacity in conjunction with the growth of local and regional demand. In addition to various programmes implemented to encourage Omani products, government support for the food security system, and initiatives implemented to address financing challenges and challenges resulting from disruption of supply chains due to geopolitical developments in the region.
The Muscat Stock Exchange lists 12 companies operating in the food manufacturing sector, engaged in diverse fields including the production, processing, and marketing of wheat flour, fresh baked goods, fresh and frozen fish, fresh and frozen poultry, soft drinks, mushrooms, baby biscuits, and many other products. The market capitalisation of these companies at the week's trading reached OMR380 million. These include OMR100.7 million for Oman Flour Mills, OMR84 million for Al Safa Foods and OMR57.1 million for Dhofar Foods and Investment.
Six companies recorded profits in the first nine months of this year, while five companies recorded losses exceeding OMR3.7 million, compared to losses of OMR1.1 million in the same period last year. Meanwhile, Oman Sweets Company is subject to liquidation according to the decision of the Extraordinary General Assembly in January 2023.
Oman Flour Mills (OFM) topped the list of companies with the highest net profits after recording a growth in net profits of about 41 percent from OMR6.1 million to OMR8.6 million. The company attributed this growth to the increase in sales volume and the improvement in operating income, supported by profits from the sale of investments and a decrease in selling and distribution expenses. It said that it is working on evaluating a number of projects that focus on achieving integration across the value chain, in addition to diversification into new business areas and expanding production for some of the group’s subsidiaries.
Al Safa Foods reported net profits of OMR4.7 million compared to OMR5.2 million in the same period last year. The company said the decline in profits was due to higher costs of feed and packaging materials, as well as increased import costs.
Dhofar Food and Investment Company achieved net profits of OMR3.52 million at the group level, compared to losses of about OMR406,000 in the same period last year. The company said that it enjoys a strategic position that qualifies it to benefit from the government’s directions for economic diversification and increased attention to food security initiatives and strengthening the logistics and service sectors, noting that the local market is still highly sensitive to prices.
Oman Refreshments recorded net profits of OMR3.23 million in the first nine months of this year, compared to profits of OMR2.78 million in the same period last year. The company said that these results reflect the company’s continued resilience and strong operational performance, noting that it is focused on enhancing operational efficiency, maintaining discipline in cost management and achieving sustainable long-term growth.
The net profit of the Gulf Mushroom Producer Company rose from OMR1.8 million to about OMR2.6 million. The company said that the increase in its sales in the first nine months of this year from OMR8.8 million to OMR10.6 million reflects the rise in regional demand for the company’s products.
The National Biscuit Manufacturing Company's net profit for the first nine months of this year was OMR218,000 compared to OMR391,000 in the same period last year. The company said it is working on diversifying its supply chain to meet supply chain challenges.
In contrast, Oman Fisheries Company recorded the highest losses, with its losses in the first nine months of this year exceeding OMR1.4 million compared to approximately OMR1.7 million in the same period last year. The company stated that it faced exceptional challenges this year, explaining that severe liquidity constraints exacerbated the negative impacts on fish procurement, production continuity, supplier confidence, and the company's ability to meet some of its obligations on time. As a result, the company's business activity declined. It added that despite these challenges, the company took steps to resume its operations by reopening its branches to provide processing services to third parties, in addition to resuming export operations.
Salalah Mills Company, at the group level, recorded losses of OMR842,000 in the first nine months of this year compared to net profits of OMR1.82 million in the same period last year. Meanwhile, the parent company achieved net profits of OMR1.38 million compared to profits of OMR2.03 million in the same period last year. The group was able to increase its revenues from OMR65.1 million to OMR66.8 million, but the rise in operating costs and operating expenses led to the group turning from profits to losses.
National Mineral Water Company recorded losses of OMR799,000 compared to losses of OMR631,000 in the same period last year. The company said that the operating environment was affected by a number of external challenges in the market, fluctuating raw material prices, rising shipping and logistics costs, and regional and international developments that affected global supply chains.
Oman European Food Industries managed to reduce its losses in the first nine months of this year to OMR394,000 compared to OMR439,000 in the same period last year, while Dhofar Refreshments and Foodstuffs increased its losses from OMR209,000 to OMR307,000.
