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Jordanian Duty Free Shops Q2 profit climbs YOY

Jordanian Duty Free Shops said its second-quarter normalized net income was 12 Jordanian fils per share, an increase from 12 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 2.7 million dinars, a gain from 2.7 million dinars in the year-earlier period.

The normalized profit margin fell to 18.6% from 19.7% in the year-earlier period.

Total revenue climbed 7.4% on an annual basis to 14.5 million dinars from 13.5 million dinars, and total operating expenses grew 10.2% on an annual basis to 10.4 million dinars from 9.4 million dinars.

Reported net income increased from the prior-year period to 4.3 million dinars, or 19 fils per share, from 4.2 million dinars, or 19 fils per share.

As of July 26, US$1 was equivalent to 71 Jordanian fils.