Alkhaleej Training turns to profit of SAR 25 mln in 9M 2023; Q3 at SAR 15 mln

09/11/2023 Argaam Exclusive

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Alkhaleej Training and Education Co. reported a net profit of SAR 25 million for the first nine months of 2023, against a loss of SAR 6.6 million a year earlier on the significant improvement across all segments.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Revenues	644.32	691.76	7.4 %
Gross Income	99.70	158.39	58.9 %
Operating Income	20.29	61.00	200.6 %
Net Income	(6.61)	17.52	365.1 %
Average Shares	65.00	65.00	-
EPS (Riyals)	(0.10)	0.27	365.1 %

The company realized a net profit of SAR 15 million in Q3 2023, a 9% increase from SAR 13.8 million in Q3 2022 due to improved performance of the training, schools and call center segments.

Sequentially, the company’s net profit surged from SAR 2.3 million in Q2 2023.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Revenues	220.40	271.58	23.2 %
Gross Income	41.44	78.40	89.2 %
Operating Income	18.20	34.53	89.7 %
Net Income	13.80	13.48	(2.3 %)
Average Shares	65.00	65.00	-
EPS (Riyals)	0.21	0.21	(2.3 %)

Item	Q2 2023	Q3 2023	Change‬
Revenues	211.86	271.58	28.2 %
Gross Income	39.44	78.40	98.8 %
Operating Income	13.10	34.53	163.7 %
Net Income	0.32	13.48	4175.0 %
Average Shares	65.00	65.00	-
EPS (Riyals)	0.00	0.21	4175.0 %

Shareholders’ equity, no minority interest, stood at SAR 650.10 million as of Sept. 30, 2023, from SAR 711.70 million a year earlier.

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