National Company for Learning & Education (NCLE) has reported a 28.01 percent decline year-on-year (YoY) in net earnings to SAR 48.9 million for the FY ending on August 31, 2018.
The profit drop was driven by a 5.1 percent fall in revenue. The company also cited higher salaries, increased cost of revenue, in addition to a rise in general and administrative expenses (G&As).
Sales revenue retreated by 5.17 percent YoY to SAR 204.3 million in the same year.
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