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Humansoft Holding Q2 profit climbs 66.7% YOY

Humansoft Holding Co. KSCP said its second-quarter normalized net income amounted to 1.2 million dinars, a gain of 66.7% from 705,840 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 14.2% from 13.6% in the year-earlier period.

Total revenue grew 59.2% year over year to 8.3 million dinars from 5.2 million dinars, and total operating expenses rose 58.0% on an annual basis to 6.3 million dinars from 4.0 million dinars.

Reported net income increased 66.9% from the prior-year period to 1.9 million dinars, or 2 fils per share, from 1.1 million dinars, or 1 fils per share.

As of Aug. 19, US$1 was equivalent to 30 Kuwaiti fils.