Ataa posts 6% profit drop in FY 2019

22/10/2019 Argaam Exclusive

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Ataa Educational Co. reported a net profit after zakat and tax of SAR 82.7 million for the fiscal year ending July 31, 2019, a decline of 5.9 percent year-on-year (YoY) due to lower revenue amid tough competition and market conditions.

The company was also hit by finance charges that more than doubled YoY on funding Al-Rowad Private Schools Complex in Ishbilia.

Financials (M)

Item	2018	2019	Change‬
Revenues	325.19	320.59	(1.4 %)
Gross Income	107.77	107.85	0.1 %
Operating Income	86.84	85.42	(1.6 %)
Net Income	87.91	82.75	(5.9 %)
Average Shares	40.00	40.00	-
EPS (Riyals)	2.20	2.07	(5.9 %)

In Q4, Ataa reported a net profit after zakat and tax of SAR 38 million. It added that shareholders’ equity – excluding minority interest – stood at SAR 746.5 million by the end of this period.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	84.56	82.94	(1.9 %)
Gross Income	42.06	43.69	3.9 %
Operating Income	37.95	38.87	2.4 %
Net Income	37.90	37.97	0.2 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.95	0.95	0.2 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	79.74	82.94	4.0 %
Gross Income	19.39	43.69	125.3 %
Operating Income	12.87	38.87	202.1 %
Net Income	12.01	37.97	216.1 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.30	0.95	216.1 %

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