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Danah Al Safat Foodstuff Q4 profit climbs 43.5% YOY

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Danah Al Safat Foodstuff Q4 profit climbs 43.5% YOY

Danah Al Safat Foodstuff Co. KPSC said its fourth-quarter normalized net income amounted to 142,160 dinars, a rise of 43.5% from 99,100 dinars in the year-earlier period.

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

Total revenue climbed on an annual basis to 6.5 million dinars from 6.3 million dinars, and total operating expenses totaled 6.1 million dinars, compared with 6.1 million dinars in the prior-year period.

Reported net income came to 1,060 dinars, compared with a loss of 582,860 dinars, or a loss of 0 fils per share, in the year-earlier period.

For the year, the company's normalized net income totaled 628,050 dinars, a decline of 49.5% from 1.2 million dinars in the prior year.

Full-year total revenue increased 15.8% from the prior-year period to 36.0 million dinars from 31.1 million dinars, and total operating expenses increased 20.0% year over year to 35.1 million dinars from 29.2 million dinars.

The company said reported net income fell 77.6% year over year to 102,720 dinars, or 0 fils per share, in the full year, from 458,580 dinars, or 0 fils per share.

As of April 14, US$1 was equivalent to 30 Kuwaiti fils.