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Sultan Center Food Products Q1 profit falls YOY

Sultan Center Food Products Co. - KSCP said its normalized net income for the first quarter was 253,640 dinars, compared with 255,110 dinars in the prior-year period.

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

The normalized profit margin fell to 0.4% from 0.4% in the year-earlier period.

Total revenue rose year over year to 69.7 million dinars from 68.7 million dinars, and total operating expenses rose year over year to 69.2 million dinars from 68.4 million dinars.

Reported net income rose 5.6% year over year to 449,190 dinars, or 0 fils per share, from 425,230 dinars, or 0 fils per share.

As of May 23, US$1 was equivalent to 30 Kuwaiti fils.