NCLE posts SAR 157.8M net profit in FY 2023/24, SAR 58M in Q4

30/10/2024 Argaam Exclusive

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National Company for Learning and Education (NCLE) reported a net profit of SAR 157.8 million for the short fiscal year (FY) ended July 31, 2024 (11 months), up 55% from SAR 101.8 million in the year-earlier period.

Financials (M)

Item	2023	2024	Change‬
Revenues	446.49	565.47	26.6 %
Gross Income	195.91	281.23	43.5 %
Operating Income	114.19	180.72	58.3 %
Net Income	101.78	157.83	55.1 %
Average Shares	43.00	43.00	-
EPS (Riyals)	2.37	3.67	55.1 %

The company’s revenues rose 27% year-on-year (YoY), driven primarily by a 21% increase in student enrollment, from 23,400 students last year to 28,200 by the end of the current year.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	103.88	130.65	25.8 %
Gross Income	52.99	95.99	81.2 %
Operating Income	25.46	66.38	160.7 %
Net Income	20.92	57.98	177.2 %
Average Shares	43.00	43.00	-
EPS (Riyals)	0.49	1.35	177.2 %

Item	Q3 2024	Q4 2024	Change‬
Revenues	145.39	130.65	(10.1 %)
Gross Income	62.88	95.99	52.7 %
Operating Income	40.18	66.38	65.2 %
Net Income	34.80	57.98	66.6 %
Average Shares	43.00	43.00	-
EPS (Riyals)	0.81	1.35	66.6 %

In addition, two new educational campuses for TNIS in Al-Arid district and Al-Ghad Private Schools in Al-Qairawan district were opened in the city of Riyadh at the beginning of the current year 2023-2024.

Shareholders’ equity, no minority interest, amounted to SAR 793.323 million, compared to SAR 704.722 million in the prior-year period.

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