Financial Results : Al Mohafaza’s profit jumps 47% to SAR 9.4M in FY 2023/24

Al Mohafaza’s profit jumps 47% to SAR 9.4M in FY 2023/24

30/09/2024 Argaam Exclusive

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Al Mohafaza Company for Education reported a net profit of SAR 9.4 million for the fiscal year (FY) ended on July 31, 2024, up 47% from SAR 6.4 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 26.14 29.12 11.4 %
Gross Income 11.64 13.89 19.3 %
Operating Income 5.79 7.64 31.9 %
Net Income 6.39 9.40 47.1 %
Average Shares 6.70 7.18 7.2 %
EPS (Riyals) 0.95 1.31 37.3 %


The annual rise in earnings was buoyed by better revenue, thanks to increased tuition fees in the education segment, and higher student count, compared to a year earlier.

 

Al Mohafaza also reported higher revenue from leasing and operation and improved other income in FY 2023/24. The company also recorded a reversal of a credit loss provision.

 

Shareholders’ equity, no minority interest, reached SAR 109.88 million by the end of the 12-month period, compared to SAR 76.98 million a year earlier.

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