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Future Kid Entertainment & Real Estate swings to profit in Q1

Future Kid Entertainment & Real Estate Co. KSCP said its normalized net income for the first quarter was 131,310 dinars, compared with a loss of 9,290 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 9.1% from negative 0.6% in the year-earlier period.

Total revenue fell on an annual basis to 1.4 million dinars from 1.5 million dinars, and total operating expenses decreased 14.2% year over year to 1.4 million dinars from 1.6 million dinars.

Reported net income totaled 204,120 dinars, or 0 fils per share, compared to a loss of 20,130 dinars, or a loss of 0 fils per share, in the year-earlier period.

As of June 2, US$1 was equivalent to 30 Kuwaiti fils.