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Palestine Industrial Investment H1 profit falls YOY

Palestine Industrial Investment Co. Ltd. said its normalized net income for the first half came to 5 Jordanian fils per share, a decrease of 29.0% from 7 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 970,390 dinars, a decrease of 28.9% from 1.4 million dinars in the prior-year period.

Total revenue rose year over year to 16.8 million dinars from 16.1 million dinars, and total operating expenses climbed 8.5% from the prior-year period to 15.3 million dinars from 14.1 million dinars.

Reported net income decreased 25.3% year over year to 1.6 million dinars, or 9 fils per share, from 2.1 million dinars, or 11 fils per share.

As of Aug. 11, US$1 was equivalent to 71 Jordanian fils.