Alkhaleej Training Decrease to SR5 mln during 1Q, by 33%

The Alkhaleej Training and Education Company announced that it recorded net losses after zakat and tax in the first quarter of SR5 million, compared to losses of SR7.6 million in the same quarter of last year, a decrease of 33%.

This came after Alkhaleej announcement on Tuesday about the preliminary financial results for the period ending on 31.03.2022 (three months).

The operational profit amounted to SR3 million in the first quarter, compared to a profit of SR832 thousand in the same quarter of the previous year, an increase of 237%.

The gross profit in the first quarter amounted to SR22.3 million, compared to SR32.3 million in the same quarter of the previous year, a decrease of 31%.

The loss per share in the current period was SR0.08, compared to a loss of SR0.17 in the same period last year.

The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is:

The reason for the decrease in losses in the first quarter of the current year compared to the first quarter of the previous year is due to the increase in the revenues of the current quarter compared to the first quarter of the previous year for the schools, call centers and training sectors with a total increase of 25.3 million in addition to a reduction in some operating expenses. The first quarter refers to the seasonality of training activities, especially the consumers sector, and this appears in the company’s historical financial statements.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is:

The reason for incurring losses in the 1st Quarter 2022 as compared to the fourth quarter of 2021 is due to the seasonality of schools and training activities, as shown in the company’s financials and historical statements, where the fourth quarter of each year is always the best in achieving operational profitability, affected by the results of the company’s investments in the acquired and invested companies as well as the starting of new Academic year at that time.

Some comparative figures have been reclassified where necessary for better presentation.

Profits/(loss) per share is calculated by dividing the profit/loss for the period attributable to the shareholders of the parent company by the weighted average number of ordinary shares during the period.