National Company for Learning and Education (NCLE) reported a net profit after Zakat and tax of SAR 36.3 million for the first half ended Feb. 28, 2022, compared to SAR 8.4 million in the year-ago period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 91.05 | 151.67 | 66.6 % |
| Gross Income | 30.42 | 60.18 | 97.8 % |
| Operating Income | 12.05 | 40.11 | 232.8 % |
| Net Income | 8.35 | 36.31 | 334.7 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.19 | 0.84 | 334.7 % |
This increase was driven by a 77% rise year-on-year (YoY) in revenue, as student enrollment jumped by 23% YoY to 16,400 students by the end of H1 2021/22 from 13,300 in the prior-year period, paired with higher tuition fees.
This came despite a decline in government grants and subsidies during the current period compared with H1 2020/21, as the company benefited from the government initiative "Saned" that was launched to mitigate the financial impacts of the COVID-19 pandemic last year.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 46.60 | 77.29 | 65.9 % |
| Gross Income | 16.51 | 29.80 | 80.5 % |
| Operating Income | 6.76 | 19.70 | 191.3 % |
| Net Income | 4.56 | 18.21 | 298.9 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.11 | 0.42 | 298.9 % |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 74.38 | 77.29 | 3.9 % |
| Gross Income | 30.38 | 29.80 | (1.9 %) |
| Operating Income | 20.41 | 19.70 | (3.5 %) |
| Net Income | 18.10 | 18.21 | 0.6 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.42 | 0.42 | 0.6 % |
In Q2 2021/22, net profit after Zakat and tax stood at SAR 18.2 million, up from SAR 4.56 million in the year-earlier period.
When compared to the previous quarter, net profit edged up 0.6% from SAR 18.10 million.
Total shareholders’ equity, excluding minority interest, inched up to SAR 615.071 million for H1 2021/2022 from SAR 597.420 million in the year before.
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