Alkhaleej Training and Education Co. turned to a net loss after Zakat and tax of SAR 7.6 million for the first half of 2021, against a net profit of SAR 9.1 million in the year-earlier period.
The loss was attributed to higher general, administrative and marketing expenses, despite the SANED subsidy.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 395.36 | 399.27 | 1.0 % |
| Gross Income | 68.91 | 46.34 | (32.8 %) |
| Operating Income | 30.34 | 11.40 | (62.4 %) |
| Net Income | 9.05 | (7.61) | (184.0 %) |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.16 | (0.14) | (184.0 %) |
The firm also swung to a net loss after Zakat and tax of SAR 3,000 in Q2 2021, compared to a net profit of SAR 4.7 million in the same period last year.
On a sequential basis, the company narrowed net losses from SAR 7.6 million in Q1 2021.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 181.59 | 193.40 | 6.5 % |
| Gross Income | 26.09 | 29.41 | 12.7 % |
| Operating Income | 15.76 | 10.53 | (33.2 %) |
| Net Income | 4.66 | 0.00 | (100.1 %) |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | 0.08 | 0.00 | (100.1 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 205.87 | 193.40 | (6.1 %) |
| Gross Income | 32.31 | 29.41 | (9.0 %) |
| Operating Income | 0.83 | 10.53 | 1163.9 % |
| Net Income | (7.60) | 0.00 | 100.0 % |
| Average Shares | 55.42 | 55.42 | - |
| EPS (Riyals) | (0.14) | 0.00 | 100.0 % |
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