Financial Results : Academy of Learning H1 2024 net profit drops 46% to SAR 7.7M

Academy of Learning H1 2024 net profit drops 46% to SAR 7.7M

14/08/2024 Argaam Exclusive

View other reports

Academy of Learning (AOL) reported a net profit of SAR 7.7 million by the end of H1 2024, a decrease of 46% year-on-year (YoY) from SAR 14.2 million. 



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 38.82 51.46 32.5 %
Gross Income 25.44 23.16 (9.0 %)
Operating Income 14.00 7.99 (42.9 %)
Net Income 14.20 7.69 (45.9 %)
Average Shares 90.00 90.00 -
EPS (Riyals) 0.16 0.09 (45.9 %)

AOL recorded SAR 12.9 million operational losses in Riyadh as the branch is in the initial operating stage. It is expected to enter the actual operating stage in H2 2024.

 

Excluding this non-recurring item, the net income for the period is SAR 21 million, with a growth rate of 45% compared to H1 2023.

 

In addition, marketing and selling expenses increased to SAR 7.4 million in H1 2024, compared to SAR 4.1 million in the year-earlier period. Profitability was also affected by the high expenses of branches under construction (two branches).



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 38.82 51.46 32.5 %
Gross Income 25.44 23.16 (9.0 %)
Operating Income 14.00 7.99 (42.9 %)
Net Income 14.20 7.69 (45.9 %)
Average Shares 90.00 90.00 -
EPS (Riyals) 0.16 0.09 (45.9 %)

On the other hand, the company’s revenue increased in H1 2024 to SAR 51.46 million, at a growth rate of 32.54% YoY. The increased revenue was driven by the rise in the number of branches to 10 branches compared to seven in H1 2023.

 

Shareholders’ equity, no minority interest, increased in H1 2024 to SAR 111.77 million from SAR 107.77 million in H1 2023.

 

 

Historical Data

Period

Revenue (SAR mln)

Net Profit (SAR mln)

EPS (SAR)

H1 2021

18.00

7.40

0.08

H2 2021

24.28

8.8

0.10

H1 2022

26.21

8.16

0.09

H2 2022

36.70

13.20

0.15

H1 2023

38.82

14.20

0.16

H2 2023

54.09

14.47

0.16

H1 2024

51.46

7.69

0.09

View More Financial Results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.