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Palestine Poultry Q1 profit climbs YOY

Palestine Poultry Co. Ltd. said its normalized net income for the first quarter came to 956,200 dinars, an increase from 24,320 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 increased to 11.3% from 0.4% in the year-earlier period.

Total revenue climbed 34.8% year over year to 8.4 million dinars from 6.3 million dinars, and total operating expenses grew 11.6% from the prior-year period to 6.9 million dinars from 6.2 million dinars.

Reported net income grew year over year to 1.4 million dinars, or 10 fils per share, from 15,660 dinars, or 0 fils per share.

As of April 15, US$1 was equivalent to 71 Jordanian fils.