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 %)

Item	Q2 2020	Q3 2020	Change‬
Revenues	56.49	57.21	1.3 %
Gross Income	24.22	24.44	0.9 %
Operating Income	14.18	14.23	0.4 %
Net Income	13.44	12.13	(9.8 %)
Average Shares	43.00	43.00	-
EPS (Riyals)	0.31	0.28	(9.8 %)

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