Al Khaleej Training posts SAR 16.87 million profits in 9 months
Al Khaleej Training and Education Co. posted SAR16.87 million profit during the first nine months of 2019, a 21.58 percent increase compared to SAR13.87 million posted during the same period 2018.
The company attributed the increase in net profit during the first nine months 2019, compared with the same period of the previous year to the improvement of the company's results mainly in the training sector, as well as the improvement of the results of its subsidiary companies.
Meanwhile, the firm said that the decrease in net profit during the current quarter compared with the same quarter of the previous year is due to decrease in revenues for this quarter as compared with the same quarter of the previous year. In addition, the increase in cost of revenues and selling and marketing expenses also contributed to lower profit.
Compared to the second quarter 2019, the company attributed the profit increase in the third quarter 2019 to the increase in revenues for school sector, training sector and subsidiaries. The cost of revenue dropped in educational projects due to seasonal market conditions.