Alkhaleej Training and Education Co. announces its Annual Financial Results for the Period Ending on 2022-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 880,897,839 | 844,217,281 | 4.34 | ||
| Gross Profit (Loss) | 156,208,932 | 148,860,615 | 4.94 | ||
| Operational Profit (Loss) | 37,616,507 | -1,089,968 | – | ||
| Net Profit (Loss) after Zakat and Tax | 224,214 | -33,348,739 | – | ||
| Total Comprehensive Income | -31,490,910 | -30,197,060 | 4.28 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 715,715,581 | 752,903,393 | -4.94 | ||
| Profit (Loss) per Share | 0.05 | -0.69 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The company achieved a profit this year compared to the previous year as a result of some factors: despite the increase in revenues by 36 million riyals over the previous year, especially in the school sector, which succeeded in increasing the number of students by 100% from 4,600 students in the previous year to 9,250 students. By the end of the current year, however, some adjustments and recalculation were made according to the requirements of International Financial Reporting Standard No. 9, which necessitated increasing the value of customer debt provisions for one time in accordance with the international standard, which had a negative impact on the profits of the current year and the comparison years. |
| Statement of the type of external auditor’s report | Unmodified opinion |
| Reclassification of Comparison Items | The comparative numbers for the years ending on December 31, 2021, and December 31, 2020, have been restated mainly as a result of recalculation according to the requirements of International Financial Reporting Standard No. 9, which necessitated the amendment of previous years’ numbers. |
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