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OSOS Holding Q1 profit climbs 25.8% YOY

OSOS Holding Group Co. KPSC said its normalized net income for the first quarter was 529,000 dinars, a rise of 25.8% from 420,650 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 1.8% from 9.3% in the year-earlier period.

Total revenue rose 53.5% year over year to 7.0 million dinars from 4.5 million dinars, and total operating expenses climbed 57.5% from the prior-year period to 6.2 million dinars from 3.9 million dinars.

Reported net income grew 31.3% year over year to 840,260 dinars, or 0 fils per share, from 640,070 dinars, or 0 fils per share.

As of May 29, US$1 was equivalent to 30 Kuwaiti fils.