Financial Results : Alkhaleej Training profit tumbles 98% to SAR 1.3M in Q1 2025

Alkhaleej Training profit tumbles 98% to SAR 1.3M in Q1 2025

13/05/2025 Argaam Exclusive

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Alkhaleej Training and Education Co. reported a net profit slump of 98% to SAR 1.3 million after minority interest in Q1 2025, from SAR 65 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 274.30 287.95 5.0 %
Gross Income 44.50 54.45 22.3 %
Operating Income 6.38 19.43 204.7 %
Net Income 65.27 1.05 (98.4 %)
Average Shares 65.00 65.00 -
Earnings Per Share before unusual items (Riyal) (0.17) 0.02 109.7 %
EPS (Riyal) 1.00 0.02 (98.4 %)

Before minority interest, net profit reached SAR 1.05 million in Q1 2025, plunging 98% from SAR 65.3 million in Q1 2024.

 

The company signed a subcontract, from which it generated non-recurring profits of SAR 76 million in Q1 2024.

 

It reported an increase of SAR 5.5 million year-on-year (YoY) in provisions for expected credit losses.

 

General and administrative expenses (G&A) dropped by 23% YoY, while revenues grew 5% on an annual basis.

 

The company turned profitable from a net loss of SAR 13.3 million in Q4 2024 as G&A declined by 24% quarter-on-quarter (QoQ). Provisions for expected credit losses fell by 78% QoQ, with financing costs also decreasing by 22%.

 

Total shareholders’ equity, after minority interest, increased to SAR 522.59 million as of March 31, 2025, from SAR 516.05 million a year earlier.

 

Accumulated losses stood at SAR 26.69 million as of March 31, 2025, representing 4% of the company’s capital.

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