Alkhaleej Training and Education Co. reported a net profit of SAR 1.5 million in Q1 2023, against a net loss of SAR 12 million in the same period last year.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 219.41 | 208.94 | (4.8 %) |
| Gross Income | 26.21 | 40.55 | 54.7 % |
| Operating Income | (4.11) | 24.31 | 690.8 % |
| Net Income | (12.01) | 3.25 | 127.1 % |
| Average Shares | 65.00 | 65.00 | - |
| EPS (Riyals) | (0.18) | 0.05 | 127.1 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 232.90 | 208.94 | (10.3 %) |
| Gross Income | 45.58 | 40.55 | (11.0 %) |
| Operating Income | 10.04 | 24.31 | 142.1 % |
| Net Income | (8.71) | 3.25 | 137.3 % |
| Average Shares | 65.00 | 65.00 | - |
| EPS (Riyals) | (0.13) | 0.05 | 137.3 % |
The profit was driven by 15% YoY decline in cost of revenues and 20% YoY decline in selling and distribution expenses. In addition, the school acquisitions had a positive impact on earnings.
Compared to Q4 2022, the company turned to profit against a loss of SAR 13.1 million.
Shareholders’ equity, no minority interest, rose to SAR 694.97 million as of March 31, 2023, from SAR 813.70 million a year earlier.
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