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National Poultry swings to loss in Q3

National Poultry Co. PLC said its third-quarter normalized net income came to a loss of 3 Jordanian fils per share, compared with 4 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 a loss of 986,790 dinars, compared with income of 1.2 million dinars in the prior-year period.

The normalized profit margin declined to negative 5.0% from 5.7% in the year-earlier period.

Total revenue decreased 6.6% on an annual basis to 19.7 million dinars from 21.0 million dinars, and total operating expenses rose 11.3% on an annual basis to 21.2 million dinars from 19.1 million dinars.

Reported net income came to a loss of 1.7 million dinars, or a loss of 6 fils per share, compared to income of 1.9 million dinars, or 6 fils per share, in the prior-year period.

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