Alkhaleej Training swings to net loss of SAR 7.6 mln in H1 2021

22/08/2021 Argaam Exclusive

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Alkhaleej Training and Education Co. turned to a net loss after Zakat and tax of SAR 7.6 million for the first half of 2021, against a net profit of SAR 9.1 million in the year-earlier period.

The loss was attributed to higher general, administrative and marketing expenses, despite the SANED subsidy.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	395.36	399.27	1.0 %
Gross Income	68.91	46.34	(32.8 %)
Operating Income	30.34	11.40	(62.4 %)
Net Income	9.05	(7.61)	(184.0 %)
Average Shares	55.42	55.42	-
EPS (Riyals)	0.16	(0.14)	(184.0 %)

The firm also swung to a net loss after Zakat and tax of SAR 3,000 in Q2 2021, compared to a net profit of SAR 4.7 million in the same period last year.

On a sequential basis, the company narrowed net losses from SAR 7.6 million in Q1 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	181.59	193.40	6.5 %
Gross Income	26.09	29.41	12.7 %
Operating Income	15.76	10.53	(33.2 %)
Net Income	4.66	0.00	(100.1 %)
Average Shares	55.42	55.42	-
EPS (Riyals)	0.08	0.00	(100.1 %)

Item	Q1 2021	Q2 2021	Change‬
Revenues	205.87	193.40	(6.1 %)
Gross Income	32.31	29.41	(9.0 %)
Operating Income	0.83	10.53	1163.9 %
Net Income	(7.60)	0.00	100.0 %
Average Shares	55.42	55.42	-
EPS (Riyals)	(0.14)	0.00	100.0 %

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