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Livestock Transport & Trading Q2 profit falls YOY

Livestock Transport & Trading Co. KPSC said its second-quarter normalized net income was 573,540 dinars, a fall of 51.5% from 1.2 million 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 dropped to 3.7% from 8.7% in the year-earlier period.

Total revenue grew 14.0% on an annual basis to 15.5 million dinars from 13.6 million dinars, and total operating expenses climbed 18.4% year over year to 14.7 million dinars from 12.4 million dinars.

Reported net income fell 41.0% from the prior-year period to 1.1 million dinars, or 1 fils per share, from 1.9 million dinars, or 1 fils per share.

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