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Jordan Vegetable Oil Industries Q1 profit climbs 26.0% YOY

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Jordan Vegetable Oil Industries Q1 profit climbs 26.0% YOY

Jordan Vegetable Oil Industries Co. Ltd. said its first-quarter normalized net income amounted to 2 Jordanian fils per share, a gain of 25.9% 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 86,780 dinars, a gain of 26.0% from 68,860 dinars in the year-earlier period.

The normalized profit margin climbed to 8.6% from 5.8% in the year-earlier period.

Total revenue declined 15.1% year over year to 1.0 million dinars from 1.2 million dinars, and total operating expenses declined 18.6% year over year to 875,480 dinars from 1.1 million dinars.

Reported net income rose 16.8% from the prior-year period to 112,200 dinars, or 3 fils per share, from 96,050 dinars, or 2 fils per share.

As of April 28, US$1 was equivalent to 71 Jordanian fils.