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Jordan Dairy Q2 profit falls YOY

Jordan Dairy Co. Ltd. said its normalized net income for the second quarter amounted to 3 Jordanian fils per share, a decrease of 68.8% from 9 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 114,660 dinars, a decline of 68.8% from 367,120 dinars in the prior-year period.

The normalized profit margin fell to 2.8% from 8.4% in the year-earlier period.

Total revenue fell 7.4% year over year to 4.0 million dinars from 4.4 million dinars, and total operating expenses declined from the prior-year period to 3.9 million dinars from 4.0 million dinars.

Reported net income fell 47.3% year over year to 202,430 dinars, or 5 fils per share, from 383,770 dinars, or 10 fils per share.

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