NCLE's share of educational market in Riyadh stands at 5%

National Company for Learning & Education (NCLE) is among the top 3 education players in Riyadh, with a 5% market share, the company said during the Q1-2020 earnings conference call held on Jan. 23.

The company’s management discussed the financial results and the performance of the first quarter ended Nov. 30, 2019.

The call was attended by local and international investors and analysts, the statement added.

As per the conference call presentation, NCLE is among the top three education companies in Riyadh, with 5% share of the Riyadh’s education market.

The company further noted that its expansion strategy for 2020 includes closing of recent M&A deals and continuing to explore investment opportunities.

Opening of Al Qairawan Campus is also part of the expansion strategy, the company added.

The company also seeks to open new classes in Buraydah campus as well as to launch an international curriculum in Al-Nuzha and Al-Rayyan educational complexes.

The company further noted that it seeks to maintain business growth despite the challenges such as higher costs of employing non-Saudis and lower government allocations and support.

It also added that government grants and subsidies declined 43% in Q1 2020 compared to Q1 2019.