Alkhaleej Training and Education Co. announces the interim financial results for the period ending on 31-12-2016 (Twelve Months)
| ELEMENT | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | % CHANGE CURRENT | PREVIOUS QUARTER | % CHANGE PREVIOUS |
|---|
| Net profit (loss) | 19,394,562 | 21,556,077 | -10.03 | 20,464,535 | -5.23 |
| Gross profit (loss) | 49,449,117 | 56,190,587 | -12 | 40,463,141 | 22.21 |
| Operational profit (loss) | 22,368,747 | 24,684,342 | -9.38 | 17,734,657 | 26.13 |
| All figures are in Saudi Arabia, Riyals |
| ELEMENT | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | % CHANGE |
|---|
| Net profit (loss) | 44,123,999 | 68,888,847 | -35.95 |
| Gross profit (loss) | 146,302,342 | 180,183,930 | -18.8 |
| Operational profit (loss) | 51,417,298 | 81,800,389 | -37.14 |
| Earning or loss per share, Riyals | 1.1 | 1.72 | – |
| All figures are in Saudi Arabia, Riyals |
| ELEMENT | EXPLAINATION |
|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The overall decrease in sales is related to decrease in the educational sector. |
| Reasons of increase (decrease) for period compared with same period last year | The decrease in sales in the Training Sector is due to the slowdown in governmental sector sales for the first half of the year. There is also a decrease in sales in the Educational projects Sector In addition, the Capital Lease for Al Ghadeer Building in Riyadh has contributed towards increasing the financial charges. Furthermore, there has been a decrease in sales and profit in the company subsidiaries. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The decrease in the net profit due to the decrease in the other income as compared with the third quarter of the year, there is a significant improvement in operational activities. However, the net profit for the current quarter as compared to the third quarter of the year dropped due to receiving dividend from our investment in the NHWW Company in the United States during the third quarter of the year. |
| Reclassifications in quarterly financial results | the annual audited numbers of last year were used for the comparison with the current year numbers |
| Other notes | 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. |
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.
