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Zarka Educational & Investment Q2 profit falls YOY

Zarka Educational & Investment Co. said its second-quarter normalized net income amounted to 6 Jordanian fils per share, a decline of 13.5% from 7 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 1.0 million dinars, a decline of 13.5% from 1.2 million dinars in the year-earlier period.

The normalized profit margin dropped to 17.2% from 19.4% in the year-earlier period.

Total revenue declined year over year to 5.9 million dinars from 6.1 million dinars, and total operating expenses increased from the prior-year period to 4.3 million dinars from 4.2 million dinars.

Reported net income decreased 13.6% year over year to 1.3 million dinars, or 8 fils per share, from 1.5 million dinars, or 9 fils per share.

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