Kuwait – Mubasher: Educational Holding Group reported a 4,827% surge in profits for the fiscal year (FY) that ended on August 31, 2019.

Annual profits amounted to KWD 7.75 million ($25.61 million), compared with KWD 157,300 ($519,700) in the prior fiscal year.

The increase in profits is attributed to higher stakes in sister companies, as well as including last year’s risk provisions for intangible and fixed assets, the company said in a statement to Boursa Kuwait.

Meanwhile, the company’s board of directors recommended today in its meeting distributing cash dividends of 59.442 fils per share, or 59.442%, at a total sum of KWD 14.58 million.