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Mediterranean Tourism Investment Q3 profit climbs YOY

Mediterranean Tourism Investment Co. said its third-quarter normalized net income was 2 Jordanian fils per share, an increase from 2 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 769,500 dinars, a gain from 761,390 dinars in the prior-year period.

The normalized profit margin rose to 15.6% from 14.2% in the year-earlier period.

Total revenue fell 7.7% on an annual basis to 4.9 million dinars from 5.4 million dinars, and total operating expenses fell 10.5% on an annual basis to 3.8 million dinars from 4.2 million dinars.

Reported net income rose on an annual basis to 984,950 dinars, or 2 fils per share, from 974,580 dinars, or 2 fils per share.

As of Oct. 27, US$1 was equivalent to 71 Jordanian fils.