Alkhaleej Training profit soars to SAR 10.3 mln in 9M 2022; Q3 at SAR 9.2 mln

10/11/2022 Argaam Exclusive

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Alkhaleej Training and Education Co. reported a net profit after Zakat and tax of SAR 10.3 million in the first nine months of 2022, compared to SAR 331,500 a year earlier, backed by improved operating and financing activities in the education and universities segments.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	610.51	644.32	5.5 %
Gross Income	82.76	99.70	20.5 %
Operating Income	27.72	20.29	(26.8 %)
Net Income	0.33	(6.61)	(2090.0 %)
Average Shares	55.42	65.00	17.3 %
EPS (Riyals)	0.01	(0.10)	(1796.6 %)

The results were also lifted by the positive impact of the newly acquired schools during this period.

In Q3 2022, net profit after Zakat and tax climbed 16% to SAR 9.2 million, from SAR 7.94 million in Q3 2021, due to improvement in operating and financing activities in the universities and schools segments. The three-month results were also driven by the positive impact of the newly acquired schools during this quarter.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	211.24	220.40	4.3 %
Gross Income	36.43	41.44	13.7 %
Operating Income	16.32	18.20	11.6 %
Net Income	7.94	13.80	73.8 %
Average Shares	55.42	65.00	17.3 %
EPS (Riyals)	0.14	0.21	48.2 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	205.31	220.40	7.3 %
Gross Income	29.04	41.44	42.7 %
Operating Income	2.55	18.20	613.0 %
Net Income	(10.70)	13.80	228.9 %
Average Shares	65.00	65.00	-
EPS (Riyals)	(0.16)	0.21	228.9 %

Compared to Q2 2022, net profit surged 51.1% from SAR 6.11 million.

Total shareholders’ equity, no minority interest, increased to SAR 806.381 million as of Sept. 30, 2022, from SAR 661.825 million a year earlier.

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