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Vegetable Oil Industries Q2 profit climbs 6.2% YOY

Vegetable Oil Industries Co. Ltd. said its normalized net income for the second quarter was 28 Jordanian fils per share, a gain of 5.4% from 27 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 1.1 million dinars, a gain of 6.2% from 1.1 million dinars in the prior-year period.

The normalized profit margin declined to 66.6% from 70.3% in the year-earlier period.

Total revenue rose 12.1% year over year to 1.7 million dinars from 1.5 million dinars, and total operating expenses increased 12.5% on an annual basis to 1.6 million dinars from 1.4 million dinars.

Reported net income rose year over year to 1.7 million dinars, or 42 fils per share, from 1.6 million dinars, or 41 fils per share.

As of Aug. 11, US$1 was equivalent to 71 Jordanian fils.