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Comprehensive Multiple Project Q1 loss widens 40.8% YOY

Comprehensive Multiple Project Co. said its normalized net income for the first quarter came to a loss of 2 Jordanian fils per share, compared with a loss of 1 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 a loss of 110,370 dinars, compared with a loss of 78,380 dinars in the year-earlier period.

The normalized profit margin fell to negative 6.3% from negative 5.7% in the year-earlier period.

Total revenue increased 25.9% on an annual basis to 1.7 million dinars from 1.4 million dinars, and total operating expenses grew 29.5% from the prior-year period to 1.7 million dinars from 1.3 million dinars.

Reported net income totaled a loss of 202,420 dinars, or a loss of 4 fils per share, compared to a loss of 70,960 dinars, or a loss of 1 fils per share, in the prior-year period.

As of April 29, US$1 was equivalent to 71 Jordanian fils.