Alkhaleej Training delivers strong financial performance in Q1-24; accumulated losses reported

Alkhaleej Training delivers strong financial performance in Q1-24; accumulated losses reported

Riyadh – Mubasher: Alkhaleej Training and Education Company posted a 1,647% year-on-year (YoY) leap in net profit to SAR 65.02 million during the first quarter (Q1) of 2024, versus SAR 3.72 million. The listed firm generated revenues amounting to SAR 276.48 million as of 31 March 2024, higher by 32.71% than SAR 208.32 million in Q1-23, according to the interim financials. Earnings per share (EPS) grew to SAR 1 in the first three months (3M) of 2024 from SAR 0.05 a year earlier. On a quarterly basis, Alkhaleej Training turned profitable in Q1-24 against net losses valued at SAR 67.01 million in Q4-23, while the revenues fell by 4.78% from SAR 290.37 million. Accumulated Losses The company’s accumulated losses hit SAR 38.66 as of 31 March 2024, representing 5.94% of the capital. In 2023, Alkhaleej Training witnessed 174.42% YoY higher net losses at SAR 42.01 million, compared to SAR 15.31 million.

Alkhaleej Training delivers strong financial performance in Q1-24; accumulated losses reported