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AAN Digital Services Co. Q1 profit falls YOY

AAN Digital Services Holding Company K.S.C. Public said its first-quarter normalized net income came to 103,300 dinars, a decline of 60.8% from 263,510 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 declined to 0.5% from 1.5% in the year-earlier period.

Total revenue climbed 8.3% on an annual basis to 19.4 million dinars from 17.9 million dinars, and total operating expenses climbed 8.2% from the prior-year period to 19.3 million dinars from 17.8 million dinars.

Reported net income decreased 60.8% from the prior-year period to 163,380 dinars, or 0 fils per share, from 417,230 dinars, or 0 fils per share.

As of May 16, US$1 was equivalent to 30 Kuwaiti fils.