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Siniora Food Industries Q1 profit climbs 8.9% YOY

Siniora Food Industries Company P.L.C said its normalized net income for the first quarter amounted to 5 Jordanian fils per share, an increase of 8.9% from 5 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 1.1 million dinars, a gain of 8.9% from 1.0 million dinars in the year-earlier period.

The normalized profit margin dropped to 9.8% from 10.3% in the year-earlier period.

Total revenue rose 15.3% on an annual basis to 11.2 million dinars from 9.7 million dinars, and total operating expenses grew 17.2% year over year to 9.3 million dinars from 7.9 million dinars.

Reported net income increased 10.7% year over year to 1.5 million dinars, or 7 fils per share, from 1.4 million dinars, or 6 fils per share.

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