Al Khaleej Training and Education Co. posted a net profit after Zakat and tax of SAR 59.46 million in the fiscal year of 2019, up 84% compared to SAR 32.35 million in 2018.
The company attributed the increase in net profit to the improvement of the results of the school segment on the back of sale and leaseback of 3 school properties.
Net profit was also driven by improvement in results of the training segment and its subsidiary companies.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 802.52 | 864.19 | 7.7 % |
| Gross Income | 157.80 | 137.18 | (13.1 %) |
| Operating Income | 66.06 | 41.78 | (36.8 %) |
| Net Income | 32.36 | 59.36 | 83.4 % |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.58 | 1.07 | 83.4 % |
The company signed a sale and leaseback agreement with Al-Rajhi capital for 3 of the school properties for a period of 15 years on December 23, 2019.
In Q4 2019, the company's net profit after Zakat and tax surged to SAR 42.60 million, compared to net profit of SAR 18.48 million a year earlier.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 216.56 | 239.98 | 10.8 % |
| Gross Income | 50.87 | 27.04 | (46.8 %) |
| Operating Income | 28.45 | (5.78) | (120.3 %) |
| Net Income | 18.48 | 42.49 | 129.9 % |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.33 | 0.77 | 129.9 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 208.82 | 239.98 | 14.9 % |
| Gross Income | 50.69 | 27.04 | (46.7 %) |
| Operating Income | 23.16 | (5.78) | (125.0 %) |
| Net Income | 13.14 | 42.49 | 223.5 % |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.24 | 0.77 | 223.5 % |
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