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National Company for Learning and Education announces its interim Financial results for the period ending on 2019-05-31 ( Nine Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 49,384,52751,863,575-4.77949,350,8050.068
Total Profit (Loss) 21,323,52622,052,583-3.30521,369,692-0.216
Profit (Loss) Operational 13,834,02314,871,869-6.97812,638,0799.463
Net Profit (Loss) after Zakat and Tax 13,455,93512,856,8704.65912,167,32810.59
Total Comprehensive Income 14,209,93512,856,87010.52414,387,328-1.232
All figures are in (Actual) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 148,613,215153,536,485-3.206
Total Profit (Loss) 63,768,67261,388,4563.877
Profit (Loss) Operational 39,911,08541,850,645-4.634
Net Profit (Loss) after Zakat and Tax 37,098,49035,282,6445.146
Total Comprehensive Income 41,027,49035,559,60115.376
Total Share Holders Equity (after deducting minority equity) 592,324,611349,519,18869.468
Profit (Loss) per Share 0.941.18
All figures are in (Actual) Saudi Arabia, Riyals
Accumulated LossesCapital
0430,000,000
Element ListExplanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year The increase in net profit for current quarter compared to the same quarter of the previous year is due to:

- improved profit margin as a result of decrease in cost of revenue for current quarter compared to the same quarter of the previous year.

- increase in other income during the current quarter due to refund of the combined bill from the ministry of labor and social development by the support of the Private Sector Stimulus Bureau for the amount of SR 2.5 Million.

- decrease of the finance cost during the current quarter which resulted from the earned revenue of Islamic Murabaha.

Moreover, the net profit has improved despite the decrease in government grants and subsidization, the increase in general and administrative expenses, and providing a provision for receivables impairment losses, as a result of the Company’s adoption of IFRS 9 during the current quarter.

Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The increase in net profit of current quarter as compared to the previous quarter is due to increase in other income during the current quarter which resulted from the refund of the combined bill from the ministry of labor and social development by the support of the Private Sector Stimulus Bureau for the amount of SR 2.5 Million, despite the increase in general and administrative expenses, and the provided provision for receivables impairment losses during the current quarter.
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year The increase in net profit for current period compared to the same period of the previous year is due to:

- improved profit margin as a result of decrease in cost of revenue for current period compared to the same period of the previous year.

- increase in other income during the current period due to refund of the combined bill from the ministry of labor and social development by the support of the Private Sector Stimulus Bureau for the amount of SR 2.5 Million.

- decrease of the finance cost during the current period which resulted from the earned revenue of Islamic Murabaha.

- decrease in zakat expense for current period compared to the same period of the previous year.

Moreover, the net profit has improved despite the decrease in government grants and subsidization, the increase in general and administrative expenses, and providing a provision for receivables impairment losses, as a result of the Company’s adoption of IFRS 9 during the current period.

Type of the external auditor's opinion Unmodified opinion
Additional Information Basic earnings per share is calculated by dividing income for the period attributable to the Company’s ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. The weighted average number of shares as of May 31, 2019 is 39,285,714 (May 31, 2018: 30,000,000), as a result of the increase in number of shares from 30 million shares to 43 million shares resulted from the increase in share capital from SR 300 million to SR 430 million.

On 10 Rabi I 1440H (corresponding to 18 November 2018), the company's shares were listed and started trading on Saudi Stock Exchange (Tadawul) under code (4291). The Company's share capital increased after completion of the IPO from SR 300 million (divided into 30 million shares) to SR 430 million (divided into 43 million shares) through issuing 13 million shares at a par value of SR 10 per share. The share price on the issue date was SR 19 and the share premium was SR 117 million. The IPO expenses were reduced by SR 16 million from the share premium, therefore the share premium balance became SR 100.98 million.

The Company has applied IFRS 9 which requires providing a provision for receivables impairment losses. The impact of the adoption of IFRS 9 has resulted in a decrease of SR 5.2 million in the opening retained earnings balance as at 1 September 2018.

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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Last Price Net Change
26.1 0.1 (+0.38%)
Value Traded (SAR) Volume Traded
867,165.75 33,337

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