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General Investment Co. Q1 profit climbs 17.6% YOY

General Investment Co. Ltd. said its normalized net income for the first quarter was 2 Jordanian fils per share, an increase of 17.6% from 2 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 231,490 dinars, a gain of 17.6% from 196,880 dinars in the prior-year period.

The normalized profit margin declined to 8.4% from 10.2% in the year-earlier period.

Total revenue grew 41.8% year over year to 2.7 million dinars from 1.9 million dinars, and total operating expenses increased 45.1% on an annual basis to 2.5 million dinars from 1.7 million dinars.

Reported net income rose 15.2% from the prior-year period to 330,110 dinars, or 3 fils per share, from 286,630 dinars, or 3 fils per share.

As of May 19, US$1 was equivalent to 71 Jordanian fils.