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Zara Investment Q2 profit climbs 24.5% YOY

Zara Investment Holding Co. said its second-quarter normalized net income came to 491,160 dinars, a rise of 24.5% from 394,620 dinars in the prior-year period.

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

The normalized profit margin rose to 2.7% from 1.9% in the year-earlier period.

Total revenue fell 10.3% year over year to 18.2 million dinars from 20.3 million dinars, and total operating expenses fell 12.0% from the prior-year period to 17.0 million dinars from 19.3 million dinars.

Reported net income increased 44.9% year over year to 748,260 dinars, or 0 fils per share, from 516,220 dinars, or 0 fils per share.

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