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Petra Education Q4 profit falls YOY

Petra Education Co. Public Shareholding Co. said its normalized net income for the fourth quarter came to 7 Jordanian fils per share, a decrease of 22.5% from 9 fils per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.1 million dinars, a decline of 22.6% from 1.5 million dinars in the prior-year period.

The normalized profit margin declined to 15.3% from 21.7% in the year-earlier period.

Total revenue increased 9.2% year over year to 7.4 million dinars from 6.8 million dinars, and total operating expenses increased 24.7% on an annual basis to 5.8 million dinars from 4.6 million dinars.

Reported net income fell 24.4% from the prior-year period to 1.5 million dinars, or 9 fils per share, from 2.0 million dinars, or 12 fils per share.

For the year, the company's normalized net income totaled 29 fils per share, a decrease of 7.3% from 32 fils per share in the prior year.

Normalized net income was 4.7 million dinars, a decrease of 7.3% from 5.0 million dinars in the prior year.

Full-year total revenue increased on an annual basis to 25.0 million dinars from 23.9 million dinars, and total operating expenses increased 10.6% year over year to 18.2 million dinars from 16.5 million dinars.

The company said reported net income declined 11.9% on an annual basis to 6.0 million dinars, or 38 fils per share, in the full year, from 6.8 million dinars, or 43 fils per share.

As of March 4, US$1 was equivalent to 71 Jordanian fils.