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.
