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Premier Business & Projects Q1 profit climbs YOY

Premier Business & Projects Co. Ltd. said its first-quarter normalized net income was 93,460 dinars, an increase from 5,290 dinars in the year-earlier period.

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

The normalized profit margin increased to 3.1% from 0.2% in the year-earlier period.

Total revenue rose 12.0% year over year to 3.0 million dinars from 2.7 million dinars, and total operating expenses rose 7.5% year over year to 2.8 million dinars from 2.6 million dinars.

Reported net income grew on an annual basis to 130,110 dinars, or 9 fils per share, from 8,470 dinars, or 1 fils per share.

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