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Philadelphia International Educational Q2 profit climbs YOY

Philadelphia International Educational Investment Co. PLC said its normalized net income for the second quarter amounted to 7 Jordanian fils per share, a gain of 75.7% from 4 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 993,980 dinars, an increase from 473,350 dinars in the year-earlier period.

The normalized profit margin climbed to 19.8% from 11.6% in the year-earlier period.

Total revenue increased 22.9% year over year to 5.0 million dinars from 4.1 million dinars, and total operating expenses rose 4.9% from the prior-year period to 3.4 million dinars from 3.3 million dinars.

Reported net income increased 95.4% from the prior-year period to 1.3 million dinars, or 9 fils per share, from 651,230 dinars, or 5 fils per share.

As of July 24, US$1 was equivalent to 71 Jordanian fils.