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Alkhaleej Training and Education Co. announces its Interim Financial Results for the Period Ending on 2019-06-30 ( Six Months )

Alkhaleej Training and Education Co. announces its Interim Financial Results for the Period Ending on 2019-06-30 ( Six Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE
Sales/Revenue201,239,533175,553,38314.631214,150,927-6.029
Gross Profit (Loss)18,035,25110,715,34568.31241,416,970-56.454
Operational Profit (Loss)3,646,107-1,999,36714,930,576-75.579
Net Profit (Loss) after Zakat and Tax-3,581,409-7,693,203-53.4477,317,389
Total Comprehensive Income-2,974,338-6,077,509-51.0598,114,279
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE
Sales/Revenue415,390,460373,922,20311.09
Gross Profit (Loss)59,452,22148,482,66022.625
Operational Profit (Loss)18,576,6836,685,064177.883
Net Profit (Loss) after Zakat and Tax3,735,980-3,433,308
Total Comprehensive Income5,139,941-2,121,621
Total Share Holders Equity (after Deducting Minority Equity)552,293,776518,228,3596.573
Profit (Loss) per Share0.08-0.08
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LISTEXPLANATION
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed toThe drop in net losses during the quarter compared to the same quarter of the previous year is due to the improvement in the company’s results in the School and Training Segment, in addition to the increase in revenues in the quarter compared to the same quarter last year.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed toThe decrease in net profit for the quarter is due to the decrease in sales compared to the previous quarter due to seasonal market conditions as the training and education sectors are negatively impacted during the examinations period and the holy month of Ramadan.
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed toThe increase in net profit during the current period compared to the net loss for the same period of the previous year is due to the improvement of the company’s results in most segments such as Schools, Training and Subsidiary companies.
Basis of the External Auditor’s OpinionUnmodified opinion
Reclassification of Comparison ItemsCertain comparative figures have been reclassified where necessary for better presentation; however, other than the impact of application IFRS 16 mentioned in note 3-1 to the interim condensed consolidated financial statements, no significant reclassification have been made.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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