Alkhaleej Training and Education Co. reported a net profit surge to SAR 65 million in Q1 2024, from SAR 3.3 million in the year-earlier period.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 208.94 | 276.48 | 32.3 % |
| Gross Income | 40.55 | 46.90 | 15.6 % |
| Operating Income | 24.31 | 90.11 | 270.7 % |
| Net Income | 3.25 | 65.02 | 1900.6 % |
| Average Shares | 65.00 | 65.00 | - |
| EPS (Riyals) | 0.05 | 1.00 | 1900.6 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 290.37 | 276.48 | (4.8 %) |
| Gross Income | 77.34 | 46.90 | (39.4 %) |
| Operating Income | (9.34) | 90.11 | 1064.7 % |
| Net Income | (67.01) | 65.02 | 197.0 % |
| Average Shares | 65.00 | 65.00 | - |
| EPS (Riyals) | (1.03) | 1.00 | 197.0 % |
This was propelled by a 33% increase year-on-year (YoY) in sales to SAR 276 million, upon signing new contracts in in the call centers and the administration fields. Therefore, revenue increased by 47% YoY and 127% quarter-on-quarter.
On a quarterly basis, the company turned to profit from SAR 67.01 million loss in Q4 2023.
Shareholders’ equity, after minority interest, reached SAR 520.93 million by March 31, 2024, compared to SAR 573.37 million in the prior-year period.
Accumulated losses by March 31, 2024 reached SAR 38.66 million, accounting for 5.94% of capital.
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