Alkhaleej Training turns to net profit of SAR 21.6 mln after minorities in 2021, Q4 at 21.2 mln

31/03/2022 Argaam Exclusive

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Alkhaleej Training and Education Co. swung to a net profit after Zakat and tax of SAR 21.6 million after minority interest in 2021, against a net loss after Zakat and tax of SAR 20.7 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	787.33	842.80	7.0 %
Gross Income	124.11	146.90	18.4 %
Operating Income	7.71	(0.01)	(100.1 %)
Net Income	(21.03)	(35.85)	(70.5 %)
Average Shares	55.42	65.00	17.3 %
EPS (Riyals)	(0.38)	(0.55)	(45.3 %)

The positive results were spurred by improved operational results across all segments, including the call centers, training, universities and schools, as well as the better performance of investments of subsidiaries.

Alkhaleej Training also turned to a net profit after Zakat and tax of SAR 21.2 million in Q4 2021, against a net loss after Zakat and tax of SAR 36.29 million in the year-ago period.

When compared to Q3 2021, net profit more than doubled from SAR 7.94 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	208.00	232.29	11.7 %
Gross Income	12.70	64.13	404.8 %
Operating Income	(38.02)	(27.73)	27.1 %
Net Income	(36.61)	(36.18)	1.2 %
Average Shares	55.42	65.00	17.3 %
EPS (Riyals)	(0.66)	(0.56)	15.8 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	211.24	232.29	10.0 %
Gross Income	36.43	64.13	76.0 %
Operating Income	16.32	(27.73)	(269.9 %)
Net Income	7.94	(36.18)	(555.8 %)
Average Shares	55.42	65.00	17.3 %
EPS (Riyals)	0.14	(0.56)	(488.6 %)

Shareholders’ equity, after minority interest, jumped 37.5% to SAR 815.462 million in 2021, from SAR 593.215 million in 2020.

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