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General Investment Co. Q2 profit climbs YOY

General Investment Co. Ltd. said its normalized net income for the second quarter amounted to 6 Jordanian fils per share, a gain from 1 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 620,080 dinars, a gain from 142,140 dinars in the prior-year period.

The normalized profit margin climbed to 31.3% from 7.5% in the year-earlier period.

Total revenue increased on an annual basis to 2.0 million dinars from 1.9 million dinars, and total operating expenses fell 28.3% year over year to 1.4 million dinars from 2.0 million dinars.

Reported net income rose from the prior-year period to 926,370 dinars, or 9 fils per share, from 206,350 dinars, or 2 fils per share.

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