Financial Results : National Education profit rises 0.3% to SAR 37.2 mln in 9M 2019-2020

National Education profit rises 0.3% to SAR 37.2 mln in 9M 2019-2020

09/07/2020 Argaam Exclusive

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National Company for Learning and Education (NCLE) posted a 0.3% year-on-year (YoY) rise in net profit after Zakat and tax to SAR 37.2 million for the first nine months ending May 31, 2020.

 

The earnings slightly increased YoY due to consolidation of Al-Khawarzmi Education Company's financial statements, higher revenue, and lower depreciation expenses.

 

The third-quarter net profit after Zakat and tax decreased 10% YoY to SAR 12.1 million, driven by lower other income, higher cost of finance and increase Zakat expenses.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 156.12 165.79 6.2 %
Gross Income 63.77 68.88 8.0 %
Operating Income 35.79 40.76 13.9 %
Net Income 37.10 37.21 0.3 %
Average Shares 43.00 43.00 -
EPS (Riyals) 0.86 0.87 0.3 %

When compared to the previous quarter, NCLE’s net profit dropped 9.79%.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 51.36 57.21 11.4 %
Gross Income 21.32 24.44 14.6 %
Operating Income 10.86 14.23 31.1 %
Net Income 13.46 12.13 (9.9 %)
Average Shares 43.00 43.00 -
EPS (Riyals) 0.31 0.28 (9.9 %)

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