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Alkhaleej Training and Education Co. Announces the correction in the previous announcement relating to the interim financial results for the period ending on 31-12-2016 (Twelve Months)

Alkhaleej Training and Education Co. Announces the correction in the previous announcement relating to the interim financial results for the period ending on 31-12-2016 (Twelve Months)

Further to the announcement published on Tadawul’s website on 19-01-2017 related to the interim financial results for the period ending on 31-12-2016 (Twelve Months) where the announcement mention that With reference to our previous announcement for additional remarks there is a mistake in the English translation which is as below
The sales during the current quarter are 151.8 Million as compared with 175 Million for the same period of the last year with a decrease of 15.2%. The sales for the nine months of the current year are 463.2 Million as compared with 546.1 Million for the same period of last year with a decrease of 17.89%. The shareholders equity as of 30 September 2016, 509.5 Million compared with 504.8 Million as of 30 September 2015 with increase by 0.92%. We have successfully opened our new school in Qurtuba Riyadh as well as we have started operation of our Eshraq School in Dammam with initial number of 700 students which was already announced before. The company is fully committed to the achievement of expansion plans as it was planned while the correction is The sales during the current quarter are SR 167 Million as compared with SR 180 Million for the same period of the last year with a decrease of 7.2%. The sales for the twelve months of the current year amounts to SR 630.3 Million compared with SR 725.9 Million for the same period of last year with a decrease of 13.16%. The shareholders equity as of 31 December 2016 amounts to SR 539.1 Million compared with SR 536.3 Million as of 31 December 2015 an increase of 0.52 %. We have successfully opened our new schools in Riyadh Qurtuba and in Dammam Eshraq School. The numbers of students registered to date are 3100 active students. The company is fully committed with its expansion plans for Schools.

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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