AL - Sharq Investment Projects Co. PLC said its first-quarter normalized net income came to 2 Jordanian fils per share, a gain of 43.3% from 2 fils per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 394,150 dinars, a gain of 43.3% from 275,050 dinars in the year-earlier period.
The normalized profit margin climbed to 34.9% from 17.3% in the year-earlier period.
Total revenue decreased 28.7% year over year to 1.1 million dinars from 1.6 million dinars, and total operating expenses decreased 13.8% year over year to 1.0 million dinars from 1.2 million dinars.
Reported net income rose 33.3% from the prior-year period to 504,510 dinars, or 3 fils per share, from 378,480 dinars, or 2 fils per share.
As of April 23, US$1 was equivalent to 71 Jordanian fils.
