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Comprehensive Multiple Project Q2 loss widens 42.4% YOY

Comprehensive Multiple Project Co. said its normalized net income for the second quarter amounted to a loss of 2 Jordanian fils per share, compared with a loss of 1 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 a loss of 91,480 dinars, compared with a loss of 64,250 dinars in the prior-year period.

The normalized profit margin fell to negative 6.4% from negative 3.5% in the year-earlier period.

Total revenue fell 22.0% on an annual basis to 1.4 million dinars from 1.8 million dinars, and total operating expenses fell 21.3% year over year to 1.4 million dinars from 1.8 million dinars.

Reported net income totaled a loss of 117,330 dinars, or a loss of 2 fils per share, compared to a loss of 135,670 dinars, or a loss of 3 fils per share, in the prior-year period.

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