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Livestock Transport & Trading Q1 profit falls YOY

Livestock Transport & Trading Co. KPSC said its normalized net income for the first quarter came to 594,570 dinars, a fall from 601,150 dinars in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 6.4% from 4.4% in the year-earlier period.

Total revenue decreased 31.8% year over year to 9.3 million dinars from 13.6 million dinars, and total operating expenses decreased 35.6% from the prior-year period to 8.3 million dinars from 13.0 million dinars.

Reported net income declined on an annual basis to 913,520 dinars, or 0 fils per share, from 952,020 dinars, or 0 fils per share.

As of May 18, US$1 was equivalent to 30 Kuwaiti fils.