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Alkhaleej Training and Education Co. announces its Interim Financial Results for the Period Ending on 2019-06-30 ( Six Months )

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ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE
Sales/Revenue201,239,533175,553,38314.631214,150,927-6.029
Gross Profit (Loss)18,035,25110,715,34568.31241,416,970-56.454
Operational Profit (Loss)3,646,107-1,999,367–14,930,576-75.579
Net Profit (Loss) after Zakat and Tax-3,581,409-7,693,203-53.4477,317,389–
Total Comprehensive Income-2,974,338-6,077,509-51.0598,114,279–
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE
Sales/Revenue415,390,460373,922,20311.09
Gross Profit (Loss)59,452,22148,482,66022.625
Operational Profit (Loss)18,576,6836,685,064177.883
Net Profit (Loss) after Zakat and Tax3,735,980-3,433,308–
Total Comprehensive Income5,139,941-2,121,621–
Total Share Holders Equity (after Deducting Minority Equity)552,293,776518,228,3596.573
Profit (Loss) per Share0.08-0.08
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LISTEXPLANATION
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed toThe drop in net losses during the quarter compared to the same quarter of the previous year is due to the improvement in the company’s results in the School and Training Segment, in addition to the increase in revenues in the quarter compared to the same quarter last year.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed toThe decrease in net profit for the quarter is due to the decrease in sales compared to the previous quarter due to seasonal market conditions as the training and education sectors are negatively impacted during the examinations period and the holy month of Ramadan.
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed toThe increase in net profit during the current period compared to the net loss for the same period of the previous year is due to the improvement of the company’s results in most segments such as Schools, Training and Subsidiary companies.
Basis of the External Auditor’s OpinionUnmodified opinion
Reclassification of Comparison ItemsCertain comparative figures have been reclassified where necessary for better presentation; however, other than the impact of application IFRS 16 mentioned in note 3-1 to the interim condensed consolidated financial statements, no significant reclassification have been made.

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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Al Khaleej Training and Education Company announces the results of the Extraordinary General Assembly meeting (Second meeting)

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An Introduction:

Al Khaleej Training and Education Company is pleased to announce the results of the Extraordinary General Assembly meeting held at 7:30 pm on Sunday, 23 Sha’aban 1440H, corresponding to April 28, 2019 at the company’s headquarters in Riyadh City, No. 64 Street, General Building No. (9) in Al-Ulaya District In view of the lack of quorum required for the convening of the first meeting, which was set at 6:30 pm, the Second Consensus was held after one hour of the first meeting, which was completed by the quorum required for the meeting, (44.78%) of the capital.

  • Place and City General Assembly: The company’s main office at No. 64 intersection in the east with Al-Olaya Street building No. 9 in Al-Alia district in Riyadh city.
  • Time of the General Assembly: 19: 30
  • Attendance ratio: 44.78%.
  • The results of the vote on the agenda of the Assembly:
  1. Approved the financial statements of the company for the financial year ended 31-12-2018
  2. Approve the report of the Company’s auditors for the financial year ending on 31-12-2018

 

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Latest news: Al Khaleej Training & Education signs agreement with Education Development Company to adopt US Career Guidance Program – Kowder

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Al Khaleej Training and Education Company of the Al Khaleej Group has signed an agreement with Education Development Company to adopt the Koder Professional Career Guidance Program.

The agreement was signed by Dr. Khalid Al-Suhaim, Senior Vice President for Education, and Dr. Mohammed Bin Abdullah Al-Zghaibi, CEO of Education Development Company, the leading provider of initiatives for the development of education in the Kingdom. HE Dr. Abdulrahman bin Mohammed Al-Assami , And HE Dr. Haya Al Awad, Undersecretary of the Ministry of Education.

Dr. Khalid Al-Suhaim pointed out that the cadres program aims to help the secondary stage to choose the scientific and practical field that suits their tendencies, aptitudes, abilities and qualification requirements and to join it and progress in it and achieve the best level of compatibility with it.

As well as to achieve the appropriate test of the profession of the future and to clarify the students educational opportunities and vocational available and requirements.

And develop their positive attitudes towards some work or professions,In addition to raising students’ interests in scientific, technical and technical fields to meet the needs of the labor market, and helping them to achieve the highest degree of psychological and educational compatibility with their environments and fields of education and the process to which they join.

“The agreement is an embodiment of Al Khaleej Training and Education’s keenness to enhance the support of high school students and to benefit from the experience of the world’s leading companies in this field, in line with the educational development plans in the Kingdom of Saudi Arabia.

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Alkhaleej Training and Education Company announces the signing of a contract with the National Housing Company.

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ELEMENT LISTEXPLANATION
IntroductionOn 21/07/2019 Alkhaleej Training and Education Company signed a contract with the National Housing Company to provide marketing and sales service for the housing program of the National Housing Company.
Date of announcement of the assignment2019-05-02 Corresponding to 1440-08-27
Subject of contractHolding a marketing and sales service for the housing program of the National Housing Company.
Date of contract sign off2019-07-21 Corresponding to 1440-11-18
Contract ValueSAR 18,832,557
Contract DetailsAlKhaleej Training and Education Company provides marketing and sales services for the housing program of the National Housing Company
Contract Duration1 year
The financial impact and period that this project will affectThe Financial impact of this contract will appear during the year 2019 and after
Related PartiesThere are no related parties

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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Alkhaleej Training and Education Company announces the signing of a contract with the National Housing Company.

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ELEMENT LISTEXPLANATION
IntroductionOn 21/07/2019 Alkhaleej Training and Education Company signed a contract with the National Housing Company to provide marketing and sales service for the housing program of the National Housing Company.
Date of announcement of the assignment2019-05-02 Corresponding to 1440-08-27
Subject of contractHolding a marketing and sales service for the housing program of the National Housing Company.
Date of contract sign off2019-07-21 Corresponding to 1440-11-18
Contract ValueSAR 18,832,557
Contract DetailsAlKhaleej Training and Education Company provides marketing and sales services for the housing program of the National Housing Company
Contract Duration1 year
The financial impact and period that this project will affectThe Financial impact of this contract will appear during the year 2019 and after
Related PartiesThere are no related parties

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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Al Khaleej Training & Education Company announces that it has been awarded the first classification in the Contractors’ Certificate in the field of Telecommunications Technology.

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ELEMENT LISTEXPLANATION
Announcement DetailAl Khaleej Training & Education Company received the first classification in the field of communication technology with the certificate of classification of contractors issued by the Ministry of Municipal and Rural Affairs for the classification of contractors, obtaining the first classification in the field of communications in particular will give the company greater competitiveness in the projects of call centers.

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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Alkhaleej Training and Education Co. announces signing a Memorandum of Understanding with Al Rajhi REIT

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ELEMENT LISTEXPLANATION
IntroductionAlKhaleej Training and Education Company is pleased to announce the signing of a MoU with Al Rajhi REIT for the Sale & Leaseback of 3 of its Educational properties.
Signing date of the memorandum2019-03-31 Corresponding to 1440-07-24
Signed partyAl Rajhi REIT
Memorandum SubjectSigning of MOU between Alkhaleej Training and Education Company and Al Rajhi REIT for Sale and Leaseback of 3 of the AlKhaleej Training and Education Company’s Educational Properties
Memorandum Duration180 days from the date of signature of MOU
Related PartiesThere are no related parties
Financial ImpactDuring the financial year 2019 and onwards
Additional InformationThis potential Sale & Leaseback transaction will help the Company to unleash the cash tied up in the Assets and use the proceeds to support the company’s financial position and expansion plans and to pay down the Company debt.

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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Alkhaleej Training and Education Co. announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )

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ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE
Sales/Revenue214,150,927198,368,8207.955216,563,535-1.114
Total Profit (Loss)41,416,97037,767,3159.66350,871,874-18.585
Profit (Loss) Operational14,930,5769,384,43159.09925,263,444-40.9
Net Profit (Loss) after Zakat and Tax7,317,3894,259,89571.77317,557,284-58.322
Total Comprehensive Income8,114,2793,955,888105.11913,953,705-41.848
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE
Total Share Holders Equity (after deducting minority equity)555,268,114560,035,893-0.851
Profit (Loss) per Share0.160.09
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LISTEXPLANATION
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous yearThe reasons for the increase in net profit for the current quarter compared to last year 1st quarter, is related to the improvement in Sales in Training sector and Subsidiaries
Reason for increase (decrease) in net profit for current quarter compared to the previous quarterThe reason for drop in net profit in the current quarter compared to previous quarter is due to seasonality factors related to Training Sector and Subsidiaries
Type of the external auditor’s opinionUnmodified opinion
Reclassifications in quarter financial resultSome comparative figures have been reclassified for better presentation
Additional InformationEffective 1 January 2019, the Company adopted International Financial Reporting Standard No. 16 as described in Note 1-1. The earnings per share for the same period last year were adjusted to increase capital by SR 50 million.

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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Al Khaleej Training & Education Company announces a project with the National Housing Company

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ELEMENT LISTEXPLANATION
IntroductionAl Khaleej Training and Education Company received a approval from the National Housing Company on Thursday evening to award the project of providing marketing and sales service to the housing program on the company
Date of project Award2019-05-02 Corresponding to 1440-08-27
Project Value18,832,557 SAR
Expected Date of signing the contract2019-06-02 Corresponding to 1440-09-28
Project DetailsThe company provides the marketing and sales service for the housing program of the National Housing Company
Related PartiesThere are no related parties
Additional InformationThe contract will be announced upon signing by both parties.

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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Alkhaleej Training and Education Company announces the date of commencement of electronic voting on the agenda of the Extraordinary General Assembly Meeting (1st Meeting)

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ELEMENT LISTEXPLANATION
Announcement DetailWith reference to the Alkhaleej Training and Education company’s anouncement on on Tadawul website dated 24/07/1440 H corresponding to 31/03/2019, about the Invitation to attend the Extraordinary General Assembly Meeting (1st Meeting) which will be held at 6:30 pm on Sunday 23/08/1440H corresponding to 28/04/2019 at the Head office of the Company, Street No. 64, Olaya, Riyadh Building No.9,The Company is pleased to announce to its shareholders, that they will be able to vote electronically (electronic voting) on agendas of the Extraordinary General Assembly Meeting, and that this services will be available to the registered shareholders on for these services on Tadawulaty Starting at 10.00 am on Wednesday morning 19/08/1440H corresponding to 24/04/2019 Until 4.00 pm on the day of the meeting.

We would like to point out that, in the case of the quorum is not completed for the first meeting, the second meeting will be held an hour later and the electronic voting will automatically proceed to the second meeting.

Therefore, the company invites all of its shareholders to participate and vote remotely, By visiting Tadawulaty’s website at https://tadawulaty.com.sa

With mentioning that the Registration for Tawadaty services and voting is free of charge to all shareholders.

God bless ,,,,,

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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