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Philadelphia International Educational Q2 profit falls YOY

Philadelphia International Educational Investment Co. PLC said its normalized net income for the second quarter was 5 Jordanian fils per share, a decrease of 25.9% from 7 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 743,270 dinars, a decline of 25.2% from 993,980 dinars in the prior-year period.

The normalized profit margin dropped to 15.7% from 19.8% in the year-earlier period.

Total revenue declined 5.5% year over year to 4.7 million dinars from 5.0 million dinars, and total operating expenses grew from the prior-year period to 3.6 million dinars from 3.4 million dinars.

Reported net income fell 25.2% year over year to 951,380 dinars, or 6 fils per share, from 1.3 million dinars, or 9 fils per share.

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