Alkhaleej Training and Education Co. announces its Annual Financial Results for the Period Ending on 2019-12-31
| ELEMENT LIST | CURRENT YEAR | PREVIOUS YEAR | %CHANGE | ||
|---|---|---|---|---|---|
| Sales/Revenue | 864,191,027 | 802,516,605 | 7.685 | ||
| Gross Profit (Loss) | 178,673,344 | 157,799,691 | 13.227 | ||
| Operational Profit (Loss) | 62,032,833 | 57,553,536 | 7.782 | ||
| Net Profit (Loss) after Zakat and Tax | 59,466,935 | 32,357,877 | 83.778 | ||
| Total Comprehensive Income | 74,079,529 | 30,520,131 | 142.723 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 618,606,988 | 547,153,835 | 13.059 | ||
| Profit (Loss) per Share | 1.32 | 0.72 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| ELEMENT LIST | EXPLANATION |
|---|---|
| Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to | The reason for the increase in net profit for current year as compared to the previous year is due to the improvement in results of the school sector mainly resulting from the sale and leaseback of three Schools properties, in addition to the improvement in results of the training sector and subsidiary companies. |
| Basis of the External Auditor’s Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Some of the comparative figures have been reclassified to give a better presentation. However, other than the impact of the application of IFRS 16 mentioned in Note 3.1 to the interim condensed consolidated financial statements, no significant reclassification has been made. |
| Additional Information | The Group adopted IFRS 16 using the modified retrospective approach with the date of initial application of 1 January 2019 accordingly, and the effect of applying this standard is illustrated in Note 3-1.Earnings per share is calculated by dividing the profit for the year attributable to the shareholders of the Parent Company by the weighted average number of common shares during the year. The group has signed a sale and leaseback agreement with Al-Rajhi capital for three of the Schools properties for period of 15 years on December 23, 2019. |
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