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Arab International Hotels Q3 profit climbs 22.6% YOY

Arab International Hotels PLC said its normalized net income for the third quarter amounted to 1 Jordanian fils per share, an increase of 21.6% from 1 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 427,330 dinars, a gain of 22.6% from 348,590 dinars in the prior-year period.

The normalized profit margin increased to 13.5% from 11.8% in the year-earlier period.

Total revenue grew 7.1% on an annual basis to 3.2 million dinars from 3.0 million dinars, and total operating expenses rose 13.1% from the prior-year period to 2.8 million dinars from 2.5 million dinars.

Reported net income increased 34.4% on an annual basis to 642,270 dinars, or 2 fils per share, from 477,730 dinars, or 2 fils per share.

As of Oct. 26, US$1 was equivalent to 71 Jordanian fils.