Alkhaleej Training and Education Co. reported a net profit after Zakat and tax of SAR 10.7 million for 2020, a plunge of 82% compared from SAR 59.4 million a year earlier
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 864.19 | 787.33 | (8.9 %) |
| Gross Income | 137.18 | 124.11 | (9.5 %) |
| Operating Income | 41.78 | 7.71 | (81.6 %) |
| Net Income | 59.36 | (21.03) | (135.4 %) |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 1.07 | (0.38) | (135.4 %) |
The company attributed the decline in net profit to a drop in sales due to COVID-19. Moreover, other income from sale and leaseback of buildings was recognized last year.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 239.98 | 208.00 | (13.3 %) |
| Gross Income | 27.04 | 12.70 | (53.0 %) |
| Operating Income | (5.78) | (38.02) | (557.7 %) |
| Net Income | 42.49 | (36.61) | (186.2 %) |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.77 | (0.66) | (186.2 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 183.97 | 208.00 | 13.1 % |
| Gross Income | 42.49 | 12.70 | (70.1 %) |
| Operating Income | 15.38 | (38.02) | (347.1 %) |
| Net Income | 6.53 | (36.61) | (660.4 %) |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.12 | (0.66) | (660.4 %) |
In Q4 2020, the company swung to a net loss after Zakat and tax of SAR 4.8 million, against a net profit of SAR 42.49 million in prior-year period.
Shareholders’ equity, excluding minority interest, edged down 0.66% to SAR 596.79 million in 2020, from SAR 600.72 million a year earlier.
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