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Ramallah Summer Resorts Q1 profit climbs YOY

Ramallah Summer Resorts Co. Ltd. said its normalized net income for the first quarter amounted to 54,770 dinars, an increase from 9,240 dinars in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 52.9% from 5.9% in the year-earlier period.

Total revenue fell 33.5% on an annual basis to 103,530 dinars from 155,770 dinars, and total operating expenses fell 61.8% from the prior-year period to 76,610 dinars from 200,650 dinars.

Reported net income rose year over year to 87,630 dinars, or 3 fils per share, from 14,790 dinars, or 0 fils per share.

As of May 4, US$1 was equivalent to 71 Jordanian fils.