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Arab International for Investment & Education Q2 profit falls YOY

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Arab International for Investment & Education Q2 profit falls YOY

Arab International for Investment & Education said its normalized net income for the second quarter amounted to 6 Jordanian fils per share, a decline of 13.0% from 6 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 2.2 million dinars, a decrease of 13.0% from 2.6 million dinars in the year-earlier period.

The normalized profit margin rose to 36.4% from 21.6% in the year-earlier period.

Total revenue decreased 48.3% year over year to 6.1 million dinars from 11.9 million dinars, and total operating expenses decreased 53.2% from the prior-year period to 4.4 million dinars from 9.3 million dinars.

Reported net income decreased 9.8% from the prior-year period to 3.4 million dinars, or 8 fils per share, from 3.8 million dinars, or 9 fils per share.

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