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Jordan Hotels & Tourism Q2 profit climbs 38.9% YOY

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Jordan Hotels & Tourism Q2 profit climbs 38.9% YOY

Jordan Hotels & Tourism Company Ltd said its normalized net income for the second quarter amounted to 4 Jordanian fils per share, an increase of 39.9% from 3 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 430,940 dinars, an increase of 38.9% from 310,320 dinars in the prior-year period.

The normalized profit margin rose to 7.6% from 5.2% in the year-earlier period.

Total revenue declined 5.8% year over year to 5.6 million dinars from 6.0 million dinars, and total operating expenses declined 9.1% year over year to 5.0 million dinars from 5.5 million dinars.

Reported net income grew 51.5% year over year to 576,420 dinars, or 6 fils per share, from 380,360 dinars, or 4 fils per share.

As of July 28, US$1 was equivalent to 71 Jordanian fils.