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Jordanian Duty Free Shops Q4 profit climbs YOY

Jordanian Duty Free Shops said its fourth-quarter normalized net income was 9 Jordanian fils per share, a gain from 9 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 2.1 million dinars, a gain from 2.0 million dinars in the prior-year period.

The normalized profit margin dropped to 15.6% from 15.7% in the year-earlier period.

Total revenue increased year over year to 13.1 million dinars from 12.5 million dinars, and total operating expenses increased on an annual basis to 10.1 million dinars from 9.8 million dinars.

Reported net income fell from the prior-year period to 3.1 million dinars, or 14 fils per share, from 3.2 million dinars, or 14 fils per share.

For the year, the company's normalized net income totaled 45 fils per share, a gain of 7.8% from 42 fils per share in the prior year.

Normalized net income was 10.2 million dinars, a rise of 7.8% from 9.5 million dinars in the prior year.

Full-year total revenue increased 13.2% from the prior-year period to 54.8 million dinars from 48.4 million dinars, and total operating expenses grew 13.1% year over year to 39.4 million dinars from 34.9 million dinars.

The company said reported net income grew 6.4% year over year to 16.1 million dinars, or 72 fils per share, in the full year, from 15.2 million dinars, or 67 fils per share.

As of Feb. 17, US$1 was equivalent to 71 Jordanian fils.