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Humansoft Holding Q1 profit climbs YOY

Humansoft Holding Co. KSCP said its normalized net income for the first quarter came to 3 Kuwaiti fils per share, a gain from 2 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.9 million dinars, an increase from 1.9 million dinars in the year-earlier period.

The normalized profit margin climbed to 27.7% from 22.4% in the year-earlier period.

Total revenue rose 62.9% on an annual basis to 14.2 million dinars from 8.7 million dinars, and total operating expenses grew 40.3% year over year to 7.7 million dinars from 5.5 million dinars.

Reported net income grew year over year to 6.2 million dinars, or 5 fils per share, from 3.1 million dinars, or 3 fils per share.

As of April 26, US$1 was equivalent to 30 Kuwaiti fils.