Alkhaleej Training and Education Co. reported a net profit after Zakat and tax of SAR 15.6 million for the first nine months of 2020, down 8% compared to a profit of SAR 16.9 million in the same period a year earlier.
The company attributed the decline in net profit to a drop in sales due to COVID-19
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 624.21 | 579.33 | (7.2 %) |
| Gross Income | 110.14 | 111.41 | 1.2 % |
| Operating Income | 47.56 | 45.72 | (3.9 %) |
| Net Income | 16.87 | 15.59 | (7.6 %) |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.30 | 0.28 | (7.6 %) |
The company reported a net profit of SAR 6.5 million for the third quarter of 2020, a 50.3% year-on-year (YoY) decline, mainly due to COVID-19, which led to a drop in revenue from consumer sales across all subsidiaries and business units.
When compared to previous quarter, net profit grew 40.1% in Q3 2020 on better economic activity in the current quarter.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 208.82 | 183.97 | (11.9 %) |
| Gross Income | 50.69 | 42.49 | (16.2 %) |
| Operating Income | 23.16 | 15.38 | (33.6 %) |
| Net Income | 13.14 | 6.53 | (50.3 %) |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.24 | 0.12 | (50.3 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 181.59 | 183.97 | 1.3 % |
| Gross Income | 26.09 | 42.49 | 62.9 % |
| Operating Income | 15.76 | 15.38 | (2.4 %) |
| Net Income | 4.66 | 6.53 | 40.1 % |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.08 | 0.12 | 40.1 % |
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