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Arab International for Investment & Education Q3 profit falls YOY

Arab International for Investment & Education said its third-quarter normalized net income amounted to 17,270 dinars, a decrease of 95.4% from 376,110 dinars in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.4% from 4.2% in the year-earlier period.

Total revenue decreased 51.0% year over year to 4.3 million dinars from 8.9 million dinars, and total operating expenses fell 46.9% on an annual basis to 4.5 million dinars from 8.5 million dinars.

Reported net income fell 98.9% on an annual basis to 5,520 dinars, or 0 fils per share, from 523,780 dinars, or 1 fils per share.

As of Oct. 28, US$1 was equivalent to 71 Jordanian fils.