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Al - Eqbal Investment (PLC) Q3 profit falls YOY

Al - Eqbal Investment Co. PLC said its third-quarter normalized net income amounted to 16 Jordanian fils per share, a decrease of 11.8% from 18 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 4.9 million dinars, a decline of 11.8% from 5.5 million dinars in the prior-year period.

The normalized profit margin dropped to 15.4% from 17.8% in the year-earlier period.

Total revenue increased year over year to 31.9 million dinars from 31.1 million dinars, and total operating expenses grew 8.5% on an annual basis to 24.0 million dinars from 22.1 million dinars.

Reported net income decreased 11.2% on an annual basis to 7.3 million dinars, or 24 fils per share, from 8.2 million dinars, or 27 fils per share.

As of Oct. 24, US$1 was equivalent to 71 Jordanian fils.