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.
| 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 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 239.98 | 213.76 | (10.9 %) |
| Gross Income | 27.04 | 42.82 | 58.4 % |
| Operating Income | (5.78) | 14.58 | 352.2 % |
| Net Income | 42.49 | 4.39 | (89.7 %) |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.77 | 0.08 | (89.7 %) |
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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