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Alkhaleej Training and Education Co. announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

Alkhaleej Training and Education Co. announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

ELEMENT LIST CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR %CHANGE PREVIOUS QUARTER % CHANGE
Sales/Revenue 213,762,229 214,150,927 -0.181 239,982,330 -10.925
Gross Profit (Loss) 34,369,762 41,416,970 -17.015 68,536,548 -49.851
Operational Profit (Loss) 6,129,383 14,930,576 -58.947 22,810,130 -73.128
Net Profit (Loss) after Zakat and Tax 4,390,709 7,317,389 -39.996 42,596,162 -89.692
Total Comprehensive Income -26,678,341 8,114,279 53,285,705
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LIST CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR %CHANGE
Total Share Holders Equity (after Deducting Minority Equity) 591,928,647 555,268,114 6.602
Profit (Loss) per Share 0.1 0.16
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LIST EXPLANATION
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to The reason for the decrease in net profit during the current quartercompared to the same quarter of the previous year is due to the decrease in revenue in this quarter compared to the same quarter of the previous year as a result of the impact of the new COVID-19 epidemic 19. In addition of increase in the cost of revenue expenses for this quarter from the corresponding quarter of the previous year.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to The reason for the decrease in the results of the first quarter of 2020 compared to the fourth quarter of 2019 is that the fourth quarter is always the high sales period in the training sector for individuals, the government sector and subsidiary companies.
Basis of the External Auditor’s Opinion Unmodified opinion
Reclassification of Comparison Items no reclassification had been done
Additional Information The Group assesses the effects of the new epidemic of COVID 19, which may adversely affect its financial position, operating results and cash flows, by preparing a study to measure the potential impact on the economic value of the group, while measuring any decrease in the value of the assets and measuring any contingent liabilities, according to the criteria of International Financial Reporting Standards for future periods, as the impact cannot be reasonably estimated in light of the uncertainty in the interim condensed consolidated financial statements for the Three months ended 31 March 2020.The Group will continue to monitor the current situation and provide preventive provisions, if required, in anticipation of any potential risks.

The Group has taken into consideration the potential effects of the current economic fluctuations when determining the carrying amounts of its financial and non-financial assets as of 31 March 2020.

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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