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Alkhaleej Training and Education Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )

4290
ALKHALEEJ TRNG
-0.08 %
1445/11/01     09/05/2024 08:00:43

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 276,484,285208,323,74632.718290,370,123-4.782
Gross Profit (Loss) 46,897,54240,553,81915.64277,337,190-39.359
Operational Profit (Loss) 90,113,28624,306,521270.737-25,414,282-
Net profit (Loss) 65,020,6053,721,2101,647.297-67,012,526-
Total Comprehensive Income 60,292,1881,333,1064,422.685-77,647,627-
All figures are in (Actual) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (After Deducting the Minority Equity) 520,931,971573,373,199-9.146
Profit (Loss) per Share 10.05
All figures are in (Actual) Saudi Arabia, Riyals


Element ListPercentage of the capital (%)Amount
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value --
Accumulated Losses 5.94-38,660,366
All figures are in (Actual) Saudi Arabia, Riyals


Element ListExplanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The company achieved a growth of 33% in sales during the first quarter of the current year, amounting to 68 million Saudi riyals, with the total reported revenue of 276 million Saudi riyals as compared to 208 million Saudi riyals in the same quarter of last year. This is due to obtaining new contracts in the Call Centers and Management Project sectors, which reported increase in the revenues for these sectors by 47% and 127% respectively. The Training and Schools sectors of the Company also reported growth in revenues for the current quarter compared to the same quarter of last year by 27% and 24% respectively.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The Company's net profits during the current quarter increased by 61 million compared to the profits of the same quarter last year. This is mainly due to the group signing a sublease contract for an educational and residential complex. This transaction resulted in profits being recorded in the current quarter. In addition to the improvement in the results of the Call Centers and Training sectors.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The group's sales decreased during the current quarter by 5% amounting 14 million Saudi riyals to reach 276 million Saudi riyals compared to 290 million Saudi riyals for the previous quarter. This is due to a decrease in the revenues for Training and the Management Projects sectors by 15% and a decrease in the revenues of the Call Centers sector by 5% and an increase in Education sector’s revenues by 3%
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The company achieved profits during the current quarter amounting to 65 million riyals as compared to losses of (67) million in the previous quarter. This is due to the signing of a sublease contract for an educational and residential complex of the company which resulted in profits during the current quarter.

The Company recorded an impairment of goodwill, trade receivables and Zakat assessment expenses from 2015 to 2018 in the previous quarter.

Statement of the type of external auditor's report Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) The interim condensed consolidated financial statements for the three-month period ended March 31, 2023 were reviewed by another auditor who expressed unmodified conclusion on July 4, 2023.
Reclassification of Comparison Items Some comparative figures have been reclassified where necessary for better presentation.
Additional Information Earnings per share are calculated on the basis of the net results of the period attributable to the shareholders of the parent company divided by the weighted average number of shares.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Last Price 25.62
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