Riyadh – Mubasher: Alkhaleej Training and Education Company turned profitable at SAR 24.99 million in the first nine months (9M) of 2023, compared to net losses of SAR 6.60 million in 9M-22.

Revenues increased by 7.60% year-on-year (YoY) to SAR 693.27 million in January-September 2023 from SAR 644.31 million, according to the interim financial results.

Earnings per share (EPS) hit SAR 0.38 in 9M-23, versus a loss per share valued at SAR 0.10 a year earlier.

Financials for Q3-23

During the third quarter (Q3) of 2023, the company logged profits after Zakat and tax worth SAR 14.97 million, higher by 8.54% than SAR 13.79 million in Q3-22.

The revenues reached SAR 273.93 million in Q3-23, marking a 24.29% YoY leap from SAR 220.39 million.

On a quarterly basis, the Q3-23 net profits hiked by 526.39% from SAR 2.39 million in Q2-23, while the revenues enlarged by 28.88% from SAR 212.55 million.