Alkhaleej Training and Training Co. turned to a net profit of SAR 8.6 million in H1 2023, against a net loss of SAR 19 million in the prior-year period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 421.76 | 421.50 | (0.1 %) |
| Gross Income | 55.19 | 81.11 | 47.0 % |
| Operating Income | 0.04 | 32.54 | 83323.1 % |
| Net Income | (19.02) | 8.60 | 145.2 % |
| Average Shares | 65.00 | 65.00 | - |
| EPS (Riyals) | (0.29) | 0.13 | 145.2 % |
The half-year results were triggered by the positive contribution of the newly-acquired schools and the significant improvement in the training segment’s profit and revenue.
In the second quarter, the company reported a net profit of SAR 2.39 million, against a net loss of SAR 10.70 million in Q2 2022, attributed to the same reasons for the positive half-year earnings.
On a quarterly basis, the net profit jumped 64.1% from SAR 1.46 million in Q1 2023.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 205.31 | 212.56 | 3.5 % |
| Gross Income | 29.04 | 39.22 | 35.0 % |
| Operating Income | 2.55 | 16.36 | 541.0 % |
| Net Income | (10.70) | 2.39 | 122.3 % |
| Average Shares | 65.00 | 65.00 | - |
| EPS (Riyals) | (0.16) | 0.04 | 122.3 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 208.94 | 212.56 | 1.7 % |
| Gross Income | 40.55 | 39.22 | (3.3 %) |
| Operating Income | 24.31 | 16.36 | (32.7 %) |
| Net Income | 3.25 | 2.39 | (26.4 %) |
| Average Shares | 65.00 | 65.00 | - |
| EPS (Riyals) | 0.05 | 0.04 | (26.4 %) |
Total shareholders’ equity, after minority interest, reached SAR 677.2 million as of June 30, 2023, down from SAR 680.8 million a year earlier.
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