Alkhaleej Training turns to SAR 1 mln profit in H1 2022, Q2 at SAR 6.1 mln

23/08/2022 Argaam Exclusive

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Alkhaleej Training and Education Co. turned to a net profit after Zakat and tax of SAR 1 million in the first half of 2022, against a net loss of SAR 7.6 million a year earlier, thanks to improvement in some operating activities in the education and call centers segments.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	399.27	421.76	5.6 %
Gross Income	46.34	55.19	19.1 %
Operating Income	11.40	0.04	(99.7 %)
Net Income	(7.61)	(19.02)	(150.1 %)
Average Shares	55.42	65.00	17.3 %
EPS (Riyals)	(0.14)	(0.29)	(113.2 %)

The company also cited better control over operating expenses (OPEX) and higher collections during the period.

Alkhaleej Training reported a net profit after Zakat and tax of SAR 6.1 million in Q2 2022, against a net loss of SAR 3,416 a year earlier, backed by improvement in some operating activities in the education and call centers segments.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2021	Q2 2022	Change‬
Revenues	193.40	205.31	6.2 %
Gross Income	29.41	29.04	(1.2 %)
Operating Income	10.53	2.55	(75.8 %)
Net Income	0.00	(10.70)	(356,666.7 %)
Average Shares	55.42	65.00	17.3 %
EPS (Riyals)	0.00	(0.16)	(304,065.5 %)

Item	Q1 2022	Q2 2022	Change‬
Revenues	219.41	205.31	(6.4 %)
Gross Income	26.21	29.04	10.8 %
Operating Income	(4.11)	2.55	162.1 %
Net Income	(12.01)	(10.70)	10.9 %
Average Shares	65.00	65.00	-
EPS (Riyals)	(0.18)	(0.16)	10.9 %

The company also cited better control over OPEX and higher collections.

Alkhaleej Training turned profitable from a loss of SAR 5.09 million in Q1 2022.

Shareholders’ equity, after minority interest, increased to SAR 770.560 million as of June 30, 2022, from SAR 636.075 million a year earlier.

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