Ataa Educational Co. announces its Interim Financial Results for the Period Ending on 2021-01-31 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 63,188 | 84,479 | -25.202 | 61,226 | 3.204 |
| Gross Profit (Loss) | 16,664 | 24,886 | -33.038 | 13,708 | 21.564 |
| Operational Profit (Loss) | 11,623 | 23,363 | -50.25 | 9,859 | 17.892 |
| Net Profit (Loss) after Zakat and Tax | 6,391 | 17,283 | -63.021 | 4,917 | 29.977 |
| Total Comprehensive Income | 6,646 | 16,634 | -60.045 | 5,069 | 31.11 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 124,414 | 165,590 | -24.866 |
| Gross Profit (Loss) | 30,372 | 50,412 | -39.752 |
| Operational Profit (Loss) | 21,482 | 45,441 | -52.725 |
| Net Profit (Loss) after Zakat and Tax | 11,307 | 33,536 | -66.283 |
| Total Comprehensive Income | 11,715 | 32,281 | -63.709 |
| Total Share Holders Equity (after Deducting Minority Equity) | 720,764 | 710,958 | 1.379 |
| Profit (Loss) per Share | 0.28 | 0.84 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The decrease in net profit for current quarter compared to the same quarter of the previous year is due to:
1- The decreas in revenues by 25% compared to last year as a result of giving additional discounts due to continuing to close schools & teach students online, The increase in these discounts reached 83% compared to the same quarter of last year, as well as due to the decrease in the number of students by 10% compared to the same quarter of last year 2- The decrease in other revenues by 66%, due to the suspension of student activities, additional teaching programs and operatiion of canteens as a result of school closures, despite the decrease in operating costs by 22% compared to the same quarter of last year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | The increase in net profit during the current quarter compared to the previous quarter is due to:
1- The increase in revenues by 3% due to an increase in the number of students by 0.5% 2- Reducing operating expenses by 2% due to the decrease in maintenance expenses, educational publications and stationery related to the beginning of the school year. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The decrease in net profit for current period compared to the same period of the previous year is due to:
1-The decreas in revenues by 25% compared to last year as a result of giving additional discounts due to continuing to close schools & teach students online, The increase in these discounts reached 83% compared to the same period of last year, as well as due to the decrease in the number of students by 10% compared to the same quarter of last year 2- The decrease in other revenues by 57%, due to the suspension of student activities, additional teaching programs and operation of canteens as a result of school closures, despite the decrease in operating costs by 18% compared to the same period of last year. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | There is no notes |
| Reclassification of Comparison Items | The components and notes of the interim condensed consolidated financial statements for the comparative period have been presented and reclassified
1- An increase in the payables by an amount of 3.6 million riyals (Orouba Complex lease contract obligations) 2- An increase in the amount due to related parties by an amount of 8.9 million riyals (obligations of the lease contract of Dr. Ahmed Al-Mutaib - member of the Board of Directors) in return for reducing the liabilities of the lease contracts by 12.4 million riyals and other receivables and credit balances by an amount of 0.1 million riyals 3- An increase in general and administrative expenses by 1.3 million riyals (bank expenses) in return for reducing financing costs by the same amount For more information, please refer to note No. 7 (right to use assets) and note No. 15 (transactions and balances with related parties) and note No. 16 (financing costs) in the interim condensed consolidated financial statements for the period ending on January 31, 2021. |
| Additional Information | We would like to draw the attention of the shareholders that the condensed consolidated interim financial statements for the current half ending on January 31, 2021 will be available on Ataa Educational Company website
at the following link ataa.sa After sending it to the competent authorities, the company also wishes to draw the attention of the financial analysts and investors to send their inquiries. about the results of the midterm business to the company's email And that is within 10 days from the date of publishing the financial statements. |
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