National Learning net profit surges to SAR 36.3 mln in H1 2021/22; Q2 at SAR 18.2 mln

07/04/2022 Argaam Exclusive

National Company for Learning and Education (NCLE) reported a net profit after Zakat and tax of SAR 36.3 million for the first half ended Feb. 28, 2022, compared to SAR 8.4 million in the year-ago period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 91.05 151.67 66.6 %
Gross Income 30.42 60.18 97.8 %
Operating Income 12.05 40.11 232.8 %
Net Income 8.35 36.31 334.7 %
Average Shares 43.00 43.00 -
EPS (Riyals) 0.19 0.84 334.7 %

This increase was driven by a 77% rise year-on-year (YoY) in revenue, as student enrollment jumped by 23% YoY to 16,400 students by the end of H1 2021/22 from 13,300 in the prior-year period, paired with higher tuition fees.

 

This came despite a decline in government grants and subsidies during the current period compared with H1 2020/21, as the company benefited from the government initiative "Saned" that was launched to mitigate the financial impacts of the COVID-19 pandemic last year.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 46.60 77.29 65.9 %
Gross Income 16.51 29.80 80.5 %
Operating Income 6.76 19.70 191.3 %
Net Income 4.56 18.21 298.9 %
Average Shares 43.00 43.00 -
EPS (Riyals) 0.11 0.42 298.9 %

In Q2 2021/22, net profit after Zakat and tax stood at SAR 18.2 million, up from SAR 4.56 million in the year-earlier period.

 

When compared to the previous quarter, net profit edged up 0.6% from SAR 18.10 million.

 

Total shareholders’ equity, excluding minority interest, inched up to SAR 615.071 million for H1 2021/2022 from SAR 597.420 million in the year before.

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Share Price

National Company for Learning and Education
214.80
4.80 2.29 %

National Company for Learning and Education (NCLE)

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Financial Ratios
Current
Market Cap (M Riyal) 9,236.40
Enterprise Value (EV) (M) 9,231.60
Shares Outstanding ((M)) 43.00
EPS ( Riyal) (TTM) 3.67
Book Value (BV) ( Riyal) 18.45
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 11.64
Return on Average Assets (%) (TTM) 12.0
Return on Average Equity (%) (TTM) 21.1
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