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

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 %

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