Alkhaleej Training net profit down 8% to SAR 15.6 mln in 9M 2020

08/11/2020 Argaam Exclusive

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Alkhaleej Training and Education Co. reported a net profit after Zakat and tax of SAR 15.6 million for the first nine months of 2020, down 8% compared to a profit of SAR 16.9 million in the same period a year earlier.

The company attributed the decline in net profit to a drop in sales due to COVID-19

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	624.21	579.33	(7.2 %)
Gross Income	110.14	111.41	1.2 %
Operating Income	47.56	45.72	(3.9 %)
Net Income	16.87	15.59	(7.6 %)
Average Shares	55.42	55.42	-
EPS (Riyals)	0.30	0.28	(7.6 %)

The company reported a net profit of SAR 6.5 million for the third quarter of 2020, a 50.3% year-on-year (YoY) decline, mainly due to COVID-19, which led to a drop in revenue from consumer sales across all subsidiaries and business units.

When compared to previous quarter, net profit grew 40.1% in Q3 2020 on better economic activity in the current quarter.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	208.82	183.97	(11.9 %)
Gross Income	50.69	42.49	(16.2 %)
Operating Income	23.16	15.38	(33.6 %)
Net Income	13.14	6.53	(50.3 %)
Average Shares	55.42	55.42	-
EPS (Riyals)	0.24	0.12	(50.3 %)

Item	Q2 2020	Q3 2020	Change‬
Revenues	181.59	183.97	1.3 %
Gross Income	26.09	42.49	62.9 %
Operating Income	15.76	15.38	(2.4 %)
Net Income	4.66	6.53	40.1 %
Average Shares	55.42	55.42	-
EPS (Riyals)	0.08	0.12	40.1 %

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