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UMIC Q3 profit climbs 10.5% YOY

Universal Modern Industries for Edible Oil Co. (P.S.C) said its normalized net income for the third quarter was 4 Jordanian fils per share, a gain of 10.3% from 3 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 227,940 dinars, a gain of 10.5% from 206,360 dinars in the prior-year period.

The normalized profit margin rose to 5.5% from 5.2% in the year-earlier period.

Total revenue climbed on an annual basis to 4.1 million dinars from 4.0 million dinars, and total operating expenses rose year over year to 3.7 million dinars from 3.6 million dinars.

Reported net income grew 6.3% from the prior-year period to 313,570 dinars, or 5 fils per share, from 294,940 dinars, or 5 fils per share.

As of Oct. 18, US$1 was equivalent to 71 Jordanian fils.