Arab International Hotels PLC said its fourth-quarter normalized net income was 388,820 dinars, a rise from 154,360 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 increased to 13.5% from 4.5% in the year-earlier period.

Total revenue decreased 15.8% on an annual basis to 2.9 million dinars from 3.4 million dinars, and total operating expenses declined 21.1% from the prior-year period to 2.5 million dinars from 3.2 million dinars.

Reported net income rose from the prior-year period to 564,660 dinars, or 2 fils per share, from 197,370 dinars, or 1 fils per share.

For the year, the company's normalized net income totaled 4 fils per share, a fall of 19.7% from 5 fils per share in the prior year.

Normalized net income was 1.4 million dinars, a decline of 19.7% from 1.7 million dinars in the prior year.

Full-year total revenue declined 10.9% year over year to 10.9 million dinars from 12.3 million dinars, and total operating expenses decreased 9.6% on an annual basis to 9.8 million dinars from 10.9 million dinars.

The company said reported net income decreased 23.0% year over year to 2.0 million dinars, or 6 fils per share, in the full year, from 2.5 million dinars, or 8 fils per share.

As of March 10, US$1 was equivalent to 71 Jordanian fils.