Ataa Educational Co. posted a net profit rise of 7% to SAR 44.4 million for the nine-month period ended April 30, 2024, from SAR 41.3 million in the prior-year period.
| Item | 9m 2023 | 9m 2024 | Change |
|---|---|---|---|
| Revenues | 501.94 | 507.48 | 1.1 % |
| Gross Income | 122.52 | 135.15 | 10.3 % |
| Operating Income | 69.02 | 82.85 | 20.0 % |
| Net Income | 41.34 | 44.41 | 7.4 % |
| Average Shares | 42.09 | 42.09 | - |
| EPS (Riyals) | 0.98 | 1.06 | 7.4 % |
The company cited higher revenue from the education segment. It also acquired minority stakes in Al Yasmin International Co., Glory Generation International Co. and Al-Alsun International Private Schools Co. and reported a 4% year-on-year (YoY) rise in revenue from the education segment. Operating expenses declined by 2% YoY despite a 24% increase in finance costs, due to the abovementioned acquisition and the purchase of Irqah land. The nine-month results were also hurt by higher SAIBOR rates.
| Item | Q3 2023 | Q3 2024 | Change |
|---|---|---|---|
| Revenues | 159.89 | 163.52 | 2.3 % |
| Gross Income | 36.07 | 40.26 | 11.6 % |
| Operating Income | 20.65 | 24.67 | 19.5 % |
| Net Income | 10.73 | 10.90 | 1.6 % |
| Average Shares | 42.09 | 42.09 | - |
| EPS (Riyals) | 0.25 | 0.26 | 1.6 % |
| Item | Q2 2024 | Q3 2024 | Change |
|---|---|---|---|
| Revenues | 170.22 | 163.52 | (3.9 %) |
| Gross Income | 39.49 | 40.26 | 2.0 % |
| Operating Income | 25.21 | 24.67 | (2.1 %) |
| Net Income | 11.46 | 10.90 | (4.9 %) |
| Average Shares | 42.09 | 42.09 | - |
| EPS (Riyals) | 0.27 | 0.26 | (4.9 %) |
The third-quarter net profit increased by 2% to SAR 10.9 million from SAR 10.7 million in Q3 2022/23, thanks to a 7% YoY rise in revenue from the education segment, despite a decline in topline from the training and recruitment segments.
Shareholders’ equity, after minority interest, reached SAR 784.88 million by the end of the nine-month period, compared to SAR 858.89 million a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}