Mubasher: The annual profits of Human Soft Holding increased by 14% during the fiscal year ended 31 December 2019 to stand at KWD 35.87 million ($118.23) from KWD 31.49 million ($103.79 million).
Earnings per share (EPS) slid by 14% to 295 fils last year from 259 fils in 2018, according to a statement to the Kuwaiti bourse on Tuesday.
The company attributed the growing 2019 profits to higher revenues due to business growth and better cost efficiency.
In the meantime, total operating revenue grew by 6% in 2019 at KWD 73.29 million in FY19 when compared to KWD 69.25 million in the previous year.
Over the fourth quarter (Q4) of last year, the holding firm achieved KWD 9.78 worth of profits, up by 6% annually from KWD 9.24 million.
In addition, the company’s board approved to distribute KWD 24.33 million or 200 fils per share as cash dividends for 2019, representing 200% of the capital, in addition to the bonus shares distribution of KWD 1.22 million or 10 shares for every 100 shares, equivalent to 10% of the capital.
It is worthy to pinpoint that in the first nine months of 2019, Human Soft saw a growth of 17.3% in profits to KWD 26.1 million from KWD 22.25 million in the corresponding period in 2018.
