Financial Results : Alkhaleej Training turns to profit of SAR 1.5 mln Q1 2023

Alkhaleej Training turns to profit of SAR 1.5 mln Q1 2023

19/06/2023 Argaam Exclusive

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Alkhaleej Training and Education Co. reported a net profit of SAR 1.5 million in Q1 2023, against a net loss of SAR 12 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 219.41 208.32 (5.1 %)
Gross Income 26.21 40.55 54.7 %
Operating Income (4.11) 13.37 424.9 %
Net Income (12.01) 3.72 131.0 %
Average Shares 65.00 65.00 -
EPS (Riyals) (0.18) 0.06 131.0 %

The profit was driven by 15% YoY decline in cost of revenues and 20% YoY decline in selling and distribution expenses. In addition, the school acquisitions had a positive impact on earnings.

 

Compared to Q4 2022, the company turned to profit against a loss of SAR 13.1 million.

 

Shareholders’ equity, no minority interest, rose to SAR 694.97 million as of March 31, 2023, from SAR 813.70 million a year earlier.

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