Academy of Learning (AoL) reported a net profit of SAR 14.2 million by the end of H1 2023, an increase of 74% year-on-year (YoY) from SAR 8.2 million in a year-earlier period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 26.21 | 38.82 | 48.1 % |
| Gross Income | 16.70 | 25.44 | 52.4 % |
| Operating Income | 9.21 | 14.01 | 52.1 % |
| Net Income | 8.16 | 14.20 | 74.1 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.14 | 0.24 | 74.1 % |
This was driven by a 48% YoY increase in revenue on higher occupancy rates in branches and the opening of the third branch in Dammam in September last year.
Shareholders’ equity, excluding minority interest, increased in H1 2023 to SAR 107.769 million from SAR 101.317 million in H1 2022.
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