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Humansoft Holding Q2 profit climbs YOY

Humansoft Holding Co. KSCP said its second-quarter normalized net income came to 3.2 million dinars, a gain from 1.2 million 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 climbed to 24.3% from 14.2% in the year-earlier period.

Total revenue rose 57.8% on an annual basis to 13.1 million dinars from 8.3 million dinars, and total operating expenses increased 21.9% on an annual basis to 7.7 million dinars from 6.3 million dinars.

Reported net income increased year over year to 5.0 million dinars, or 4 fils per share, from 1.9 million dinars, or 2 fils per share.

As of Aug. 8, US$1 was equivalent to 30 Kuwaiti fils.