Sunday, 20 July 2025

NCLE reports profit jump of 299% to SR18.2mln in Q2

National Company for Learning and Education (NCLE) reported a jump by 298.9% of net profits to SR 18.2 million during the second quarter ended February 28th 2022, compared to a profit of SR 4.6 million in the same period of 2021. By the end of the six-month period ended in February 2022, the company recorded profit surge of 334.7% to SR 36.3 million compared to SR 8.4 million in the same period of the last year.

The company added in its financial result statement published on Tadawul that higher net profit is due to increase in revenue by 79% compared to the same quarter of the previous year which resulted mainly from the increase in the number of students enrolled in the company’s schools by 23% from 13.3 thousand students in last year to 16.4 thousand students during the current quarter coinciding with the second semester. In addition to the increase in tuition fees from the same quarter of the previous year which included exceptional discounts related to the repercussions of the Corona pandemic that the company announced at that time. This is despite the decrease in government grants and subsidies during the current quarter compared to the same quarter of the previous year, which is mainly due to the company’s benefiting from the government initiative (Saned) “related to mitigating the financial implications of the Corona virus during the same quarter of the previous year.

Moreover, the company is continuing in achieving its growth targets, as a new educational campus was opened- Tarbyh Namouthajiyah Schools (TNS) in Al-Arid district at the beginning of the current year 2021-2022, which contributed to the increase in the number of students during the current quarter, in addition to the growth in the number of students in the newly operated educational campuses (TNS – Al-Qairawan campus and TNS – Buraidah campus). During the current quarter, the company achieved the profitability rates before the Corona pandemic, despite the high operational costs of operating new complexes.

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