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

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 %)

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