Al Khaleej Training and Education is planning to open five new international schools costing SAR 100 million each school, said Alwaleed Aldryaan, managing director of the company.
The new schools are expected to provide services for 12,000 to 14,000 students over the next five years, Aldryaan was quoted as saying in CNBC Arabiya.
The company will finance 25 percent of the total costs from its own resources, while 75 percent will be funded through loan facilities, he noted, adding that the company’s debts are lower than SAR 300 million.
The training business represented 25 percent of the company’s gross profit last year, he added. He said he expected profit margin to near 11 percent in fiscal year 2014.
The company’s board of directors will meet next month to recommend a dividend plan. The Tadawul-listed company posted a 3 percent leap in forth quarter of 2014 year-on-year earnings to SAR 32.2 million, according to data available on Argaam.
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