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Zara Investment Q3 profit climbs YOY

Zara Investment Holding Co. said its third-quarter normalized net income was 1.4 million dinars, an increase from 152,390 dinars in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 6.5% from 0.8% in the year-earlier period.

Total revenue rose 8.1% year over year to 21.3 million dinars from 19.7 million dinars, and total operating expenses decreased year over year to 18.1 million dinars from 18.7 million dinars.

Reported net income grew on an annual basis to 2.3 million dinars, or 2 fils per share, from 292,510 dinars, or 0 fils per share.

As of Oct. 27, US$1 was equivalent to 71 Jordanian fils.