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Ramallah Summer Resorts Q2 profit climbs 32.7% YOY

Ramallah Summer Resorts Co. Ltd. said its normalized net income for the second quarter was 2 Jordanian fils per share, an increase of 24.9% from 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 68,840 dinars, a gain of 32.7% from 51,890 dinars in the year-earlier period.

The normalized profit margin rose to 56.2% from 20.5% in the year-earlier period.

Total revenue fell 51.5% on an annual basis to 122,530 dinars from 252,870 dinars, and total operating expenses declined 49.9% on an annual basis to 113,320 dinars from 226,320 dinars.

Reported net income decreased from the prior-year period to 59,730 dinars, or 2 fils per share, from 60,710 dinars, or 2 fils per share.

As of Aug. 14, US$1 was equivalent to 71 Jordanian fils.