Financial Results : Ataa profit falls 11% to SAR 19.6M in Q1 2024/25

Ataa profit falls 11% to SAR 19.6M in Q1 2024/25

10/12/2024 Argaam Exclusive

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Ataa Educational Co. reported a net profit of SAR 19.6 million for the first quarter ended Oct. 31, 2024, compared to SAR 22.1 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 170.50 165.33 (3.0 %)
Gross Income 55.40 51.48 (7.1 %)
Operating Income 32.98 31.90 (3.3 %)
Net Income 22.05 19.57 (11.2 %)
Average Shares 42.09 42.09 -
EPS (Riyals) 0.52 0.47 (11.2 %)

The company attributed the lower profit to a decline in topline as revenue from the training and recruitment segment dropped 33% year-on-year, along with the phased opening of Buckswood Schools.

 

Compared to the previous quarter, Ataa’s net earnings grew by 3.2% from SAR 18.96 million, thanks to an 89% YoY plunge in receivables impairment provisions.

 

On the other hand, revenue declined as the company offered additional discounts in some educational complexes. Additionally, operating expenses increased by 6% YoY.

 

Shareholders’ equity, after minority rights, reached SAR 820.89 million as of Q1 2024/25, up from SAR 808.82 million a year before.

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