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Vegetable Oil Industries Q1 profit falls YOY

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Vegetable Oil Industries Q1 profit falls YOY

Vegetable Oil Industries Co. Ltd. said its first-quarter normalized net income came to 12 Jordanian fils per share, a decline of 27.0% from 17 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 484,650 dinars, a decline of 26.8% from 661,850 dinars in the prior-year period.

The normalized profit margin dropped to 41.6% from 57.6% in the year-earlier period.

Total revenue increased on an annual basis to 1.2 million dinars from 1.1 million dinars, and total operating expenses climbed 13.6% from the prior-year period to 1.2 million dinars from 1.0 million dinars.

Reported net income decreased 22.2% year over year to 801,920 dinars, or 20 fils per share, from 1.0 million dinars, or 26 fils per share.

As of April 13, US$1 was equivalent to 71 Jordanian fils.