Alkhaleej Training and Education Co. announces its Interim Financial Results for the Period Ending on 2019-09-30 ( Nine Months )
| ELEMENT LIST | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | %CHANGE | PREVIOUS QUARTER | % CHANGE |
|---|
| Sales/Revenue | 208,818,237 | 212,030,867 | -1.515 | 201,239,533 | 3.766 |
| Gross Profit (Loss) | 50,684,575 | 56,372,214 | -10.089 | 18,035,251 | 181.03 |
| Operational Profit (Loss) | 20,646,020 | 24,718,251 | -16.474 | 3,646,107 | 466.248 |
| Net Profit (Loss) after Zakat and Tax | 13,134,793 | 17,308,901 | -24.115 | -3,581,409 | – |
| Total Comprehensive Income | 13,027,507 | 17,339,014 | -24.865 | -2,974,338 | – |
| All figures are in (Actual) Saudi Arabia, Riyals |
| ELEMENT LIST | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | %CHANGE |
|---|
| Sales/Revenue | 624,208,697 | 585,953,070 | 6.528 |
| Gross Profit (Loss) | 110,136,796 | 106,927,817 | 3.001 |
| Operational Profit (Loss) | 39,222,703 | 31,365,092 | 25.052 |
| Net Profit (Loss) after Zakat and Tax | 16,870,773 | 13,875,593 | 21.585 |
| Total Comprehensive Income | 18,167,448 | 15,217,393 | 19.386 |
| Total Share Holders Equity (after Deducting Minority Equity) | 565,321,283 | 535,233,911 | 5.621 |
| Profit (Loss) per Share | 0.37 | 0.31 |
| All figures are in (Actual) Saudi Arabia, Riyals |
| ELEMENT LIST | EXPLANATION |
|---|
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to | The reason of decrease in net profit during the current quarter compared with the same quarter of the previous year is due to decrease in revenues for this quarter as compared with the same quarter of the previous year. In addition, the increase in cost of revenues and selling and marketing expenses also contributed towards lower profit in the current quarter. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The increase in net profit during the current quarter compared to the previous quarter of the current year resulted in an increase in revenues for School sector, Training sector and subsidiaries. The cost of revenue dropped in Educational projects due to seasonal market conditions. |
| Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to | The reason for the increase in net profit during the current period compared with the same period of the previous year is due to the improvement of the company’s results mainly in the Training sector as well as the improvement of the results of the Subsidiary companies. |
| Basis of the External Auditor’s Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified where necessary for better presentation; however, no significant reclassifications have been made other than the impact of application IFRS 16 mentioned in note 3-1 to the interim condensed consolidated financial statement. |
| Additional Information | Our reported net profit and comprehensive income for the same periods in the previous year were changed due to the method of calculating the net profit before deducting minority interest, however, now we have reported the net profit and comprehensive income after deducting minority interest.Furthermore, the compensating cost for the Board of Directors went through the statement of changes in equity for the previous year, however, this year we have routed the Board of Director costs through the consolidated statement of profit and loss. As a result, there is a change in earnings per share for the same period due to the compensation of the Board of Directors through the consolidated statement of profit and loss instead of compensation in the statement of changes in equity. |
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