Alkhaleej Training turns to SAR 8.6 mln in H1 2023, Q2 at SAR 2.4 mln

24/08/2023 Argaam Exclusive

Alkhaleej Training and Training Co. turned to a net profit of SAR 8.6 million in H1 2023, against a net loss of SAR 19 million in the prior-year period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 421.76 420.18 (0.4 %)
Gross Income 55.19 79.99 44.9 %
Operating Income 0.04 26.46 67756.7 %
Net Income (19.02) 4.04 121.2 %
Average Shares 65.00 65.00 -
EPS (Riyals) (0.29) 0.06 121.2 %

The half-year results were triggered by the positive contribution of the newly-acquired schools and the significant improvement in the training segment’s profit and revenue.

 

In the second quarter, the company reported a net profit of SAR 2.39 million, against a net loss of SAR 10.70 million in Q2 2022, attributed to the same reasons for the positive half-year earnings.

 

On a quarterly basis, the net profit jumped 64.1% from SAR 1.46 million in Q1 2023.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 205.31 211.86 3.2 %
Gross Income 29.04 39.44 35.8 %
Operating Income 2.55 13.10 413.0 %
Net Income (10.70) 0.32 102.9 %
Average Shares 65.00 65.00 -
EPS (Riyals) (0.16) 0.00 102.9 %

Total shareholders’ equity, after minority interest, reached SAR 677.2 million as of June 30, 2023, down from SAR 680.8 million a year earlier.

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Share Price

Alkhaleej Training and Education Co.
29.10
0.45 1.57 %

Alkhaleej Training and Education Co. (ALKHALEEJ TRNG)

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Financial Ratios
Current
Market Cap (M Riyal) 1,891.50
Enterprise Value (EV) (M) 2,396.60
Shares Outstanding ((M)) 65.00
EPS ( Riyal) (TTM) 0.42
Book Value (BV) ( Riyal) 8.43
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) More than 100
Price/book 3.45
Return on Average Assets (%) (TTM) 1.3
Return on Average Equity (%) (TTM) 5.1
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