Financial Results : Alkhaleej Training incurs net loss of SAR 7.6 mln in Q1 2021

Alkhaleej Training incurs net loss of SAR 7.6 mln in Q1 2021

23/05/2021 Argaam Exclusive

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Alkhaleej Training and Education Co. incurred a net loss after Zakat and tax of SAR 7.6 million for the first quarter of 2021, against a net profit of SAR 4.4 million a year earlier.

 

The net losses were attributed to a lower revenue, due to the COVID-19 pandemic impact, in addition to an increase in the cost of sales for the current quarter, compared to the first quarter of 2020.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 213.76 205.87 (3.7 %)
Gross Income 42.82 32.31 (24.5 %)
Operating Income 14.58 0.83 (94.3 %)
Net Income 4.39 (7.60) (273.1 %)
Average Shares 55.42 55.42 -
EPS (Riyals) 0.08 (0.14) (273.1 %)

When compared to the previous quarter, net losses after Zakat and tax decreased by 57% from SAR 4.8 million, as the fourth quarter usually witnesses the most sales in the training segment for individuals, the government sector and subsidiary companies.

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