National Education’s net profit rises 6% in H1 2019-20

09/04/2020 Argaam Exclusive

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National Company for Learning and Education’s (NCLE) net profit after Zakat and tax rose by 6% year-on-year (YoY) to SAR 25.1 million for the first half ended Feb. 29, 2020.

The profit rise was attributed to consolidation of Al-Khawarzmi Education Company financial statements with NCLE, increase in revenues, in addition to decrease in depreciation expenses and finance costs.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	104.75	108.58	3.7 %
Gross Income	42.45	44.44	4.7 %
Operating Income	24.93	26.52	6.4 %
Net Income	23.64	25.08	6.1 %
Average Shares	43.00	43.00	-
EPS (Riyals)	0.55	0.58	6.1 %

The second-quarter net profit after Zakat and tax grew by 10.5% YoY to SAR 13.4 million, driven by higher profit margins and other income.

When compared to the previous quarter, NCLE’s net profit increased 15.5%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	52.22	56.49	8.2 %
Gross Income	21.37	24.22	13.3 %
Operating Income	12.07	14.18	17.5 %
Net Income	12.17	13.44	10.5 %
Average Shares	43.00	43.00	-
EPS (Riyals)	0.28	0.31	10.5 %

Item	Q1 2020	Q2 2020	Change‬
Revenues	52.10	56.49	8.4 %
Gross Income	20.23	24.22	19.7 %
Operating Income	12.34	14.18	14.9 %
Net Income	11.64	13.44	15.5 %
Average Shares	43.00	43.00	-
EPS (Riyals)	0.27	0.31	15.5 %

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