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Jordan Hotels & Tourism Q3 profit climbs 5.1% YOY

Jordan Hotels & Tourism Company Ltd said its normalized net income for the third quarter was 7 Jordanian fils per share, a gain of 4.9% from 6 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 650,660 dinars, a gain of 5.1% from 619,280 dinars in the year-earlier period.

The normalized profit margin increased to 10.8% from 9.9% in the year-earlier period.

Total revenue fell on an annual basis to 6.0 million dinars from 6.3 million dinars, and total operating expenses declined 5.2% on an annual basis to 5.0 million dinars from 5.3 million dinars.

Reported net income grew 6.4% on an annual basis to 850,840 dinars, or 9 fils per share, from 799,680 dinars, or 8 fils per share.

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