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Humansoft Holding Q1 profit climbs YOY

Humansoft Holding Co. KSCP said its first-quarter normalized net income came to 1.9 million dinars, an increase from 899,640 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 increased to 22.4% from 17.1% in the year-earlier period.

Total revenue increased 65.0% year over year to 8.7 million dinars from 5.3 million dinars, and total operating expenses rose 49.6% on an annual basis to 5.5 million dinars from 3.7 million dinars.

Reported net income increased from the prior-year period to 3.1 million dinars, or 3 fils per share, from 1.4 million dinars, or 1 fils per share.

As of May 13, US$1 was equivalent to 30 Kuwaiti fils.