Mubasher: Human Soft Holding on Tuesday reported a 13.5% year-on-year hike in profits for the fourth quarter of 2017.

The firm’s profits amounted to KWD 9.06 million ($30.25 million) during Q4-17, compared to KWD 7.99 million ($26.68 million) in the same period a year earlier, according to a statement to Boursa Kuwait.

During the full-year 2017, the Kuwait-based company posted a 16% growth in profits to KWD 28.1 million, compared to KWD 24.2 million in the year before.

The education services provider attributed the rise in its profits to an increase in revenues due to the improvement of cost efficiency.

Human Soft’s board of directors recommended distributing a 160% cash dividend from the share’s par value, equaling 160 fils per share, in addition to distributing 70% in bonus dividends in ratio 70:100.

The company's stock remained unchanged, closing Tuesday at KWD 3.45, after 22,500 shares were exchanged, with a liquidity of KWD 76,600.