Financial Results : Alkhaleej Training net profit drops 98% to SAR 332,000 in 9M 2021

Alkhaleej Training net profit drops 98% to SAR 332,000 in 9M 2021

03/11/2021 Argaam Exclusive

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Alkhaleej Training and Education Co.’s net profit after Zakat and tax plunged 98% to SAR 332,000 in 9M 2021, from SAR 15.6 million in the year-earlier period.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 579.33 610.51 5.4 %
Gross Income 111.41 82.76 (25.7 %)
Operating Income 45.72 27.72 (39.4 %)
Net Income 15.59 0.33 (97.9 %)
Average Shares 55.42 55.42 -
EPS (Riyals) 0.28 0.01 (97.9 %)

The company noted a decrease in cost of revenue, financing expenses and general and administrative expenses, despite the SANED subsidy.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 183.97 211.24 14.8 %
Gross Income 42.49 36.43 (14.3 %)
Operating Income 15.38 16.32 6.1 %
Net Income 6.53 7.94 21.5 %
Average Shares 55.42 55.42 -
EPS (Riyals) 0.12 0.14 21.5 %

The net profit after Zakat and tax rose 22% year-on-year (YoY) to SAR 8 million in Q3 2021, due to higher revenue.

 

On a sequential basis, the firm swung to net profit from a loss of SAR 3,416.

 

Shareholders’ equity, after minority interest, increased to SAR 661.82 million as of Sept. 30, 2021, from SAR 639.42 million a year earlier.

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