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Al Dawliyah for Hotels & Malls Q3 profit falls YOY

Al Dawliyah for Hotels & Malls said its normalized net income for the third quarter came to 1 Jordanian fils per share, a decrease of 6.2% from 1 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 527,830 dinars, a decline from 547,410 dinars in the year-earlier period.

The normalized profit margin increased to 13.1% from 12.9% in the year-earlier period.

Total revenue decreased 5.6% on an annual basis to 4.0 million dinars from 4.3 million dinars, and total operating expenses decreased 5.9% year over year to 3.1 million dinars from 3.3 million dinars.

Reported net income decreased on an annual basis to 675,620 dinars, or 2 fils per share, from 701,470 dinars, or 2 fils per share.

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