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Palestine Poultry Q2 profit climbs 30.1% YOY

Palestine Poultry Co. Ltd. said its normalized net income for the second quarter came to 8 Jordanian fils per share, an increase of 58.4% from 5 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 919,760 dinars, an increase of 30.1% from 707,150 dinars in the year-earlier period.

The normalized profit margin climbed to 11.5% from 8.9% in the year-earlier period.

Total revenue increased on an annual basis to 8.0 million dinars from 7.9 million dinars, and total operating expenses fell from the prior-year period to 6.5 million dinars from 6.8 million dinars.

Reported net income rose 33.7% year over year to 1.3 million dinars, or 12 fils per share, from 990,030 dinars, or 7 fils per share.

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