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Jordan Press Foundation/Al Ra'i Q1 loss narrows YOY

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Jordan Press Foundation/Al Ra'i Q1 loss narrows YOY

Jordan Press Foundation said its first-quarter normalized net income was a loss of 2 Jordanian fils per share, compared with a loss of 3 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 a loss of 150,900 dinars, compared with a loss of 289,750 dinars in the year-earlier period.

The normalized profit margin climbed to negative 3.7% from negative 6.9% in the year-earlier period.

Total revenue decreased on an annual basis to 4.1 million dinars from 4.2 million dinars, and total operating expenses decreased 6.5% from the prior-year period to 4.2 million dinars from 4.5 million dinars.

Reported net income came to a loss of 241,440 dinars, or a loss of 2 fils per share, compared to a loss of 463,590 dinars, or a loss of 5 fils per share, in the prior-year period.

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