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Educational Holding Group KSCP fiscal Q1 profit climbs 18.6% YOY

Educational Holding Group KSCP said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, came to 989,490 dinars, a gain of 18.6% from 834,390 dinars in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 29.1% from 28.3% in the year-earlier period.

Total revenue grew 14.1% year over year to 3.4 million dinars from 2.9 million dinars, and total operating expenses increased 17.9% from the prior-year period to 1.5 million dinars from 1.3 million dinars.

Reported net income rose 15.7% from the prior-year period to 1.6 million dinars, or 1 fils per share, from 1.4 million dinars, or 1 fils per share.

As of Jan. 28, US$1 was equivalent to 30 Kuwaiti fils.