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Alkhaleej Training and Education Co. announces the interim financial results for the period ending on 31-03-2017 (Three Months)

Alkhaleej Training and Education Co. announces the interim financial results for the period ending on 31-03-2017 (Three Months)

ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS
Net profit (loss) 6,266,251 7,951,944 -21.2 19,394,562 -67.69
Gross profit (loss) 30,406,574 35,289,500 -13.84 49,449,117 -38.51
Operational profit (loss) 9,751,748 11,175,526 -12.74 22,368,747 -56.4
Earning or loss per share, Riyals 0.16 0.2
All figures are in Saudi Arabia, Riyals
ELEMENT EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Although the call centers and the Schools sectors revenue increased but the decrease in revenue in the training and university project sectors caused the drop in results in Q1 of 2017.
Reasons of increase (decrease) for quarter compared with previous quarter The fourth quarter of the year is always the highest for sales in Training Sector and Subsidiaries.
Reclassifications in quarterly financial results Due to implementation of the IFRS standards, the reclassification of some numbers for this period of the year and the comparative period of last year was done.
Other notes The sales during the current quarter are 167.6 Million as compared with 166 Million for the same period of the last year with increase of 1%. The shareholders equity as of 31 March 2017, 540.3 Million compared with 534.5 Million as of 31 March 2016 with increase by 1%. The company is fully committed to the achievement of expansion plans as it was planned. The total income during the current quarter are 6.3 Million as compared with 7.9 Million for the same period of the last year with a decrease of 20 %. And 19.4 for the previous quarter with a decrease of 66%.

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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