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Jordan Dairy Q1 profit falls YOY

Jordan Dairy Co. Ltd. said its normalized net income for the first quarter amounted to 4 Jordanian fils per share, a decrease of 40.1% from 7 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 169,170 dinars, a decline of 40.1% from 282,310 dinars in the year-earlier period.

The normalized profit margin fell to 4.7% from 6.7% in the year-earlier period.

Total revenue decreased 14.4% year over year to 3.6 million dinars from 4.2 million dinars, and total operating expenses declined 11.1% on an annual basis to 3.4 million dinars from 3.8 million dinars.

Reported net income fell 68.0% on an annual basis to 117,630 dinars, or 3 fils per share, from 367,290 dinars, or 9 fils per share.

As of April 27, US$1 was equivalent to 71 Jordanian fils.