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In line with the Kingdom’s Vision 2030 AD, and our project to build a human being, we believe in the importance of preserving the Arab spirit and cultural values that distinguish us as a people, and at the same time we realize that development and progress are necessary to interact with the modern world and the future.

Alkhaleej Training and Education Co. announces its Interim Financial Results for the Period Ending on 2024-03-31 ( Three Months )

Element List Current Quarter Similar Quarter For Previous Year %Change Previous Quarter % Change
Sales/Revenue 276,484,285 208,323,746 32.718 290,370,123 -4.782
Gross Profit (Loss) 46,897,542 40,553,819 15.642 77,337,190 -39.359
Operational Profit (Loss) 90,113,286 24,306,521 270.737 -25,414,282 –
Net profit (Loss) 65,020,605 3,721,210 1,647.297 -67,012,526 –
Total Comprehensive Income 60,292,188 1,333,106 4,422.685 -77,647,627 –
All figures are in (Actual) Saudi Arabia, Riyals
Element List Current Period Similar Period For Previous Year %Change
Total Share Holders Equity (After Deducting the Minority Equity) 520,931,971 573,373,199 -9.146
Profit (Loss) per Share 1 0.05
All figures are in (Actual) Saudi Arabia, Riyals
Element List Percentage Of The Capital (%) Amount
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair
Value		 – –
Accumulated Losses 5.94 -38,660,366
All figures are in (Actual) Saudi Arabia, Riyals
Element List Explanation
The reason of the increase (decrease) in the sales/ revenues during the
current quarter compared to the same quarter of the last year is		 The company achieved a growth of 33% in sales during the first quarter
of the current year, amounting to 68 million Saudi riyals, with the total reported revenue of 276
million Saudi riyals as compared to 208 million Saudi riyals in the same quarter of last year. This
is due to obtaining new contracts in the Call Centers and Management Project sectors, which reported
increase in the revenues for these sectors by 47% and 127% respectively. The Training and Schools
sectors of the Company also reported growth in revenues for the current quarter compared to the same
quarter of last year by 27% and 24% respectively.
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 Company’s net profits during the current quarter increased by 61
million compared to the profits of the same quarter last year. This is mainly due to the group
signing a sublease contract for an educational and residential complex. This transaction resulted in
profits being recorded in the current quarter. In addition to the improvement in the results of the
Call Centers and Training sectors.
The reason of the increase (decrease) in the sales/ revenues during the
current quarter compared to the previous one is		 The group’s sales decreased during the current quarter by 5% amounting
14 million Saudi riyals to reach 276 million Saudi riyals compared to 290 million Saudi riyals for
the previous quarter. This is due to a decrease in the revenues for Training and the Management
Projects sectors by 15% and a decrease in the revenues of the Call Centers sector by 5% and an
increase in Education sector’s revenues by 3%
The reason of the increase (decrease) in the net profit (loss) during
the current quarter compared to the previous one is		 The company achieved profits during the current quarter amounting to 65
million riyals as compared to losses of (67) million in the previous quarter. This is due to the
signing of a sublease contract for an educational and residential complex of the company which
resulted in profits during the current quarter.The Company recorded an impairment of goodwill, trade receivables and
Zakat assessment expenses from 2015 to 2018 in the previous quarter.
Statement of the type of external auditor’s report Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of
the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse
opinion)		 The interim condensed consolidated financial statements for the
three-month period ended March 31, 2023 were reviewed by another auditor who expressed unmodified
conclusion on July 4, 2023.
Reclassification of Comparison Items Some comparative figures have been reclassified where necessary for
better presentation.
Additional Information Earnings per share are calculated on the basis of the net results of the
period attributable to the shareholders of the parent company divided by the weighted average number
of shares.

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