‎National Learning’s profit increase driven by higher number of students in all educational complexes: Chairman

‎National Learning’s profit increase driven by higher number of students in all educational complexes: Chairman

National Company for Learning and Education’s (NCLE) profit increase for Q1 2022/23 was driven by the year-on-year (YoY) growth in the number of students in all existing or newly-operated educational complexes. This is in addition to the opening of a new educational campus of Tarbiyah Namouthajiyah Schools in Dhahran, Chairman Khalid Al-Khudair told Argaam in a call.

Al-Khudair added that student enrollment in all educational complexes witnessed a 40% YoY hike in Q1 2022/23 which played a major role in the increase in revenues. Further, the number of students grew to 21,600 students during the quarter, compared to 15,500 students in the same period a year earlier.

He explained that Tarbyah Namouthajiyah Schools in Riyadh contributed the most to revenues by 17% during the first quarter. The financial impact of the acquisition of Alsalam National Schools in Al Khobar will be reflected during the second quarter of FY 2022/23.

NCLE aims to operate two rented educational complexes in North Riyadh’s Al-Qairawan and Al-Arid neighborhoods in the coming year. The facilities include already-existing buildings spanning areas of 14,830 and 9,735 square meters (sqm), respectively, the chairman indicated.

Meanwhile, construction work will be carried out for three new educational lands to be operational in the near