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Jordan Hotels & Tourism Q4 profit climbs YOY

Jordan Hotels & Tourism Company Ltd said its fourth-quarter normalized net income amounted to 9 Jordanian fils per share, an increase from 4 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 848,340 dinars, a gain from 384,250 dinars in the prior-year period.

The normalized profit margin climbed to 13.5% from 6.5% in the year-earlier period.

Total revenue grew 6.5% on an annual basis to 6.3 million dinars from 5.9 million dinars, and total operating expenses declined 7.3% year over year to 4.9 million dinars from 5.3 million dinars.

Reported net income grew on an annual basis to 1.1 million dinars, or 12 fils per share, from 535,940 dinars, or 5 fils per share.

For the year, the company's normalized net income totaled 18 fils per share, a decline of 7.5% from 19 fils per share in the prior year.

Normalized net income was 1.8 million dinars, a fall of 7.5% from 1.9 million dinars in the prior year.

Full-year total revenue fell 7.9% from the prior-year period to 23.5 million dinars from 25.5 million dinars, and total operating expenses fell 7.1% on an annual basis to 20.8 million dinars from 22.4 million dinars.

The company said reported net income decreased 13.3% year over year to 2.3 million dinars, or 23 fils per share, in the full year, from 2.6 million dinars, or 26 fils per share.

As of March 28, US$1 was equivalent to 71 Jordanian fils.