Mubasher: GFH expected a cash flow of nearly $150 million and a net profit of up to $50 million following the Bahraini group’s deal with the British firm Inspired.
This profit is forecast to be realised in GFH’s financial results for fiscal years 2017 and 2018, according to a bourse statement disclosed on Thursday.
GFH has made this clarification as per the request of the Capital Markets Authority (CMA) of Kuwait.
On 5 December, GFH Financial Group announced that it inked an educational agreement valued at $150 million with Inspired, a leading British global group of premium schools operating in Europe, Africa, Latin America, and Australia.
Following this deal, Inspired is projected to acquire part of GFH’s educational portfolio in the GCC, which has been built over the past four years.