Muscat: Oman’s listed food manufacturing companies recorded combined net profits of RO 22.3 million during the first nine months of 2026, marking a 40.1 percent increase from RO 15.9 million during the same period last year.

The growth was driven by improved sales, modernisation of production lines and expanded production capacity to meet rising local and regional demand.

Companies also benefited from initiatives promoting Omani products, government support for food security and measures aimed at addressing financing difficulties and supply chain disruptions caused by regional geopolitical developments.

The Muscat Stock Exchange (MSX) currently lists 12 companies operating across various food manufacturing segments, including flour, baked goods, seafood, poultry, soft drinks, mushrooms and biscuits.

Their combined market capitalisation reached approximately RO 380 million at the end of last week’s trading. Oman Flour Mills accounted for RO 100.7 million, followed by Al Safa Foods at RO 84 million and Dhofar Food and Investment at OMR 57.1 million.

Of the 12 companies, six reported profits during the nine-month period, while five recorded combined losses exceeding RO 3.7 million, compared to RO 1.1 million a year earlier. Oman Sweets Company remains under liquidation following a decision taken at its Extraordinary General Assembly in January 2023.

Oman Flour Mills emerged as the sector’s top performer, reporting a 41 percent increase in net profits to RO 8.6 million, up from RO 6.1 million last year.

The company attributed its performance to higher sales volumes, improved operating income, gains from investment sales and lower selling and distribution expenses. It is also evaluating new projects to strengthen integration across its value chain, diversify business activities and expand production at its subsidiaries.

Al Safa Foods recorded profits of RO 4.7 million, down from RO 5.2 million, as higher feed, packaging and import costs affected its earnings.

Dhofar Food and Investment returned to profitability, reporting RO 3.052 million in net profits compared to losses of RO 406,000 during the same period last year.

The company highlighted opportunities arising from Oman’s economic diversification and food security initiatives, while noting that the domestic market remains highly price-sensitive.

Oman Refreshments reported profits of RO 3.023 million, compared to RO 2.785 million last year, supported by operational efficiency and disciplined cost management.

Gulf Mushroom Producer Company also recorded strong growth, with profits rising from RO 1.8 million to approximately RO 2.6 million. Its sales increased from RO 8.8 million to RO 10.6 million, reflecting stronger regional demand.

Meanwhile, National Biscuit Manufacturing Company’s profits declined from RO 391,000 to RO 218,000. The company said it was diversifying its supply chain to address ongoing challenges.

Despite the overall growth, several companies continued to face financial pressure.

Oman Fisheries recorded the sector’s highest losses at more than RO 1.4 million, although this represented an improvement from approximately RO 1.7 million last year.

The company cited severe liquidity constraints that affected fish procurement, production, supplier confidence and its ability to meet financial obligations. It has since taken steps to revive operations by reopening branches for third-party processing services and resuming exports.

Salalah Mills reported group-level losses of RO 842,000, compared to profits of RO 1.826 million last year. However, its parent company remained profitable, earning RO 1.385 million against RO 2.036 million previously.

Although group revenues increased from RO 65.1 million to RO 66.8 million, higher operating costs and expenses pushed the group into losses.

National Mineral Water Company’s losses widened to RO 799,000 from RO 631,000, with the company citing fluctuating raw material prices, higher shipping and logistics costs and global supply chain challenges.

Oman European Food Industries reduced its losses to RO 394,000 from RO 439,000, while Dhofar Refreshments and Foodstuffs reported increased losses of RO 307,000, compared to RO 209,000 last year.