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Mediterranean Tourism Investment Q1 profit climbs 57.2% YOY

Mediterranean Tourism Investment Co. said its first-quarter normalized net income came to 469,270 dinars, a rise of 57.2% from 298,480 dinars in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 11.6% from 7.7% in the year-earlier period.

Total revenue climbed year over year to 4.0 million dinars from 3.9 million dinars, and total operating expenses fell on an annual basis to 3.4 million dinars from 3.6 million dinars.

Reported net income grew 57.0% from the prior-year period to 600,670 dinars, or 1 fils per share, from 382,600 dinars, or 1 fils per share.

As of April 28, US$1 was equivalent to 71 Jordanian fils.