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Al-Ittihad Schools Q1 profit climbs 56.0% YOY

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Al-Ittihad Schools Q1 profit climbs 56.0% YOY

Al-Ittihad Schools Co. said its first-quarter normalized net income came to 214,340 dinars, a rise of 56.0% from 137,380 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 12.5% from 9.2% in the year-earlier period.

Total revenue rose 15.2% on an annual basis to 1.7 million dinars from 1.5 million dinars, and total operating expenses climbed from the prior-year period to 1.3 million dinars from 1.3 million dinars.

Reported net income increased 44.6% from the prior-year period to 273,350 dinars, or 2 fils per share, from 189,030 dinars, or 1 fils per share.

As of April 29, US$1 was equivalent to 71 Jordanian fils.