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Siniora Food Industries Q4 profit falls YOY

Siniora Food Industries Company P.L.C said its normalized net income for the fourth quarter was 3 Jordanian fils per share, a decrease of 12.8% from 3 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 555,460 dinars, a decline of 12.8% from 637,130 dinars in the year-earlier period.

The normalized profit margin declined to 5.6% from 6.3% in the year-earlier period.

Total revenue fell on an annual basis to 10.0 million dinars from 10.1 million dinars, and total operating expenses came to 8.7 million dinars, compared with 8.7 million dinars in the year-earlier period.

Reported net income declined 13.2% on an annual basis to 829,680 dinars, or 4 fils per share, from 956,020 dinars, or 4 fils per share.

For the year, the company's normalized net income totaled 16 fils per share, a decline of 6.7% from 17 fils per share in the prior year.

Normalized net income was 3.5 million dinars, a decline of 6.7% from 3.7 million dinars in the prior year.

Full-year total revenue decreased year over year to 41.9 million dinars from 43.2 million dinars, and total operating expenses came to 36.0 million dinars, compared with 36.3 million dinars in the year-earlier period.

The company said reported net income decreased 10.0% on an annual basis to 4.9 million dinars, or 22 fils per share, in the full year, from 5.4 million dinars, or 25 fils per share.

As of March 8, US$1 was equivalent to 71 Jordanian fils.