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Arab International for Investment & Education Q1 profit falls YOY

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Arab International for Investment & Education Q1 profit falls YOY

Arab International for Investment & Education said its normalized net income for the first quarter amounted to 5 Jordanian fils per share, a decline from 6 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 2.2 million dinars, a decrease from 2.3 million dinars in the prior-year period.

The normalized profit margin climbed to 19.2% from 18.7% in the year-earlier period.

Total revenue fell 6.8% year over year to 11.4 million dinars from 12.3 million dinars, and total operating expenses decreased 5.7% year over year to 8.6 million dinars from 9.1 million dinars.

Reported net income fell on an annual basis to 2.9 million dinars, or 7 fils per share, from 3.0 million dinars, or 7 fils per share.

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