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Jordan Poultry Processing & Marketing swings to loss in Q1

Jordan Poultry Processing & Marketing Co. Ltd. said its first-quarter normalized net income came to a loss of 190,230 dinars, compared with income of 67,310 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 declined to negative 2.1% from 0.7% in the year-earlier period.

Total revenue decreased year over year to 9.0 million dinars from 9.3 million dinars, and total operating expenses rose from the prior-year period to 9.3 million dinars from 9.2 million dinars.

Reported net income came to a loss of 304,370 dinars, or a loss of 1 fils per share, compared to income of 107,690 dinars, or 0 fils per share, in the year-earlier period.

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