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Al - Eqbal Investment (PLC) Q1 profit climbs 45.0% YOY

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Al - Eqbal Investment (PLC) Q1 profit climbs 45.0% YOY

Al - Eqbal Investment Co. PLC said its first-quarter normalized net income amounted to 19 Jordanian fils per share, an increase of 47.7% from 13 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 5.7 million dinars, an increase of 45.0% from 3.9 million dinars in the prior-year period.

The normalized profit margin increased to 18.0% from 17.5% in the year-earlier period.

Total revenue grew 40.8% year over year to 31.6 million dinars from 22.4 million dinars, and total operating expenses increased 41.4% year over year to 23.0 million dinars from 16.3 million dinars.

Reported net income increased 45.1% on an annual basis to 8.5 million dinars, or 28 fils per share, from 5.9 million dinars, or 19 fils per share.

As of April 22, US$1 was equivalent to 71 Jordanian fils.