Riyadh – Mubasher: National Company for Learning and Education (NCLE) disclosed its annual financial results for the fiscal year ended 31 August.

Net profits after zakat and tax rose by 3.1% to SAR 50 million in FY 2019, compared to SAR 48.8 million in FY 2018, according to a bourse filing on Wednesday.

The company attributed the rise in profits to the improved profit margin as a result of the decrease in the cost of revenue for the current year compared to the previous year.

Year-on-year, total revenues plunged by 5.7% to SAR 207 million by the end of August.

Profit per share stood at SAR 1.25 in 2019, from SAR 1.63 last year.