National Company for Learning and Education’s (NCLE) net profit after Zakat and tax increased by 15% year-on-year (YoY) to SAR 57.8 million for FY 2019/2020 ending on Aug.31, 2020.
The profit jump was driven by consolidating financial statements of Al-Khawarzmi Education Co. and Al-Ghad National Schools Co., which increased the company’s revenue.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 207.34 | 225.27 | 8.7 % |
| Gross Income | 87.33 | 105.23 | 20.5 % |
| Operating Income | 49.14 | 65.15 | 32.6 % |
| Net Income | 50.39 | 57.80 | 14.7 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 1.17 | 1.34 | 14.7 % |
The company also cited lower depreciation expenses during the year.
The fourth-quarter net profit after Zakat and tax jumped by 55% YoY to SAR 20.6 million.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 51.22 | 59.49 | 16.1 % |
| Gross Income | 23.56 | 36.35 | 54.3 % |
| Operating Income | 13.35 | 24.40 | 82.7 % |
| Net Income | 13.29 | 20.59 | 54.9 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.31 | 0.48 | 54.9 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 57.21 | 59.49 | 4.0 % |
| Gross Income | 24.44 | 36.35 | 48.8 % |
| Operating Income | 14.23 | 24.40 | 71.4 % |
| Net Income | 12.13 | 20.59 | 69.8 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.28 | 0.48 | 69.8 % |
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