Mubasher: Educational Holding Group on Sunday reported a 97.8% year-on-year profit drop during the fiscal year ended 31 August.

Net profit amounted to KWD 157,300 million ($518,000) in FY 2018, compared to a profit of KWD 5.66 million ($18.64 million) in the previous year, according to a filing to Boursa Kuwait.

The company’s board of director recommended a cash dividends distribution of 15% of nominal value, or 15 fils per share, at a total value of KWD 3.68 million.

It is worth noting that Educational Holding suffered a loss of KWD 2.66 million ($8.9 million) during the first six months ended on 28 February 2018 against a profit worth KWD 3.18 million ($10.6 million) in the corresponding period a year ago.