Academy of Learning Co. (AOL) reported a net profit of SAR 28.7 million for 2023, a 34% increase from SAR 21.4 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 62.91 | 92.91 | 47.7 % |
| Gross Income | 39.65 | 57.56 | 45.2 % |
| Operating Income | 22.96 | 28.58 | 24.5 % |
| Net Income | 21.36 | 28.67 | 34.2 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.36 | 0.48 | 34.2 % |
The profit growth was driven by higher revenues as the company adopted an expansion policy through the opening of new branches. The firm continuously added new diplomas and training programs that align with the needs of the job market. In addition, it adopted diversification and innovation in marketing strategies.
Shareholders’ equity, no minority interest, stood at SAR 113.07 million as of Dec. 31, 2023, increasing from SAR 105.56 million a year before.
|
Historical Change of Financial Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
Earnings Per Share (SAR/Share) |
|
H1 2021 |
18.00 |
7.40 |
0.12 |
|
H2 2021 |
24.28 |
8.8 |
0.15 |
|
H1 2022 |
26.21 |
8.16 |
0.14 |
|
H2 2022 |
36.70 |
13.20 |
0.22 |
|
H1 2023 |
38.82 |
14.20 |
0.24 |
|
H2 2023 |
54.09 |
14.47 |
0.24 |
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