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Siniora Food Industries Q3 profit falls YOY

Siniora Food Industries Company P.L.C said its third-quarter normalized net income was 2 Jordanian fils per share, a decline of 30.6% 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 438,920 dinars, a decrease of 30.6% from 632,440 dinars in the year-earlier period.

The normalized profit margin declined to 3.5% from 6.2% in the year-earlier period.

Total revenue grew 23.6% on an annual basis to 12.6 million dinars from 10.2 million dinars, and total operating expenses climbed 29.0% year over year to 11.7 million dinars from 9.1 million dinars.

Reported net income declined 22.8% year over year to 673,160 dinars, or 3 fils per share, from 872,130 dinars, or 4 fils per share.

As of Oct. 31, US$1 was equivalent to 71 Jordanian fils.