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Jordan Dairy Q3 profit falls YOY

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Jordan Dairy Q3 profit falls YOY

Jordan Dairy Co. Ltd. said its normalized net income for the third quarter was 1 Jordanian fils per share, a decline of 84.3% from 8 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 51,450 dinars, a decrease of 84.3% from 328,120 dinars in the prior-year period.

The normalized profit margin declined to 1.3% from 7.9% in the year-earlier period.

Total revenue declined year over year to 4.0 million dinars from 4.2 million dinars, and total operating expenses grew 7.6% on an annual basis to 3.9 million dinars from 3.6 million dinars.

Reported net income decreased 81.2% on an annual basis to 84,530 dinars, or 2 fils per share, from 449,680 dinars, or 11 fils per share.

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