Financial Results : Al Khaleej Training net profit declines 40% to SAR 4.4 mln in Q1 2020

Al Khaleej Training net profit declines 40% to SAR 4.4 mln in Q1 2020

20/05/2020 Argaam Exclusive

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Al Khaleej Training & Education Co. reported a net profit after Zakat and tax of SAR 4.4 million for Q1 2020, a decline of 40% year-on-year (YoY), compared to SAR 7.3 million in the same period last year.

 

The company attributed the performance to lower revenue due to the impact of COVID-19 pandemic and higher cost of revenue expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 214.15 213.76 (0.2 %)
Gross Income 41.42 42.82 3.4 %
Operating Income 17.38 14.58 (16.1 %)
Net Income 7.32 4.39 (40.0 %)
Average Shares 55.42 55.42 -
EPS (Riyals) 0.13 0.08 (40.0 %)

When compared to Q4 2019, net profit fell 89.6% due to seasonality factors in the training segment, government sector and subsidiaries.

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