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National Poultry swings to loss in Q2

National Poultry Co. PLC said its second-quarter normalized net income was a loss of 37,820 dinars, compared with income of 422,880 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 negative 0.2% from 2.1% in the year-earlier period.

Total revenue fell 7.1% on an annual basis to 19.0 million dinars from 20.5 million dinars, and total operating expenses declined year over year to 19.1 million dinars from 19.8 million dinars.

Reported net income totaled a loss of 329,580 dinars, or a loss of 1 fils per share, compared to income of 540,530 dinars, or 2 fils per share, in the year-earlier period.

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