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Jordanian Duty Free Shops Q1 profit climbs YOY

Jordanian Duty Free Shops said its normalized net income for the first quarter came to 11 Jordanian fils per share, an increase from 11 fils per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.4 million dinars, an increase from 2.4 million dinars in the year-earlier period.

The normalized profit margin fell to 19.3% from 20.9% in the year-earlier period.

Total revenue climbed 9.6% on an annual basis to 12.7 million dinars from 11.5 million dinars, and total operating expenses grew 11.5% on an annual basis to 9.0 million dinars from 8.1 million dinars.

Reported net income increased from the prior-year period to 3.9 million dinars, or 17 fils per share, from 3.9 million dinars, or 17 fils per share.

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