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Arab International for Investment & Education Q1 profit falls YOY

Arab International for Investment & Education said its first-quarter normalized net income was 6 Jordanian fils per share, a decline from 6 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 2.3 million dinars, a decrease from 2.4 million dinars in the year-earlier period.

The normalized profit margin fell to 18.7% from 19.8% in the year-earlier period.

Total revenue rose on an annual basis to 12.3 million dinars from 12.0 million dinars, and total operating expenses grew on an annual basis to 9.1 million dinars from 8.9 million dinars.

Reported net income declined 10.1% on an annual basis to 3.0 million dinars, or 7 fils per share, from 3.4 million dinars, or 8 fils per share.

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