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Premier Business & Projects Q1 profit falls YOY

Premier Business & Projects Co. Ltd. said its first-quarter normalized net income was 6 Jordanian fils per share, a decline from 6 fils per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 90,720 dinars, a decline from 93,460 dinars in the year-earlier period.

The normalized profit margin rose to 11.7% from 3.1% in the year-earlier period.

Total revenue increased 39.3% on an annual basis to 4.2 million dinars from 3.0 million dinars, and total operating expenses grew 42.3% on an annual basis to 4.1 million dinars from 2.8 million dinars.

Reported net income decreased 10.4% on an annual basis to 116,560 dinars, or 8 fils per share, from 130,110 dinars, or 9 fils per share.

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