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Ataa Educational profit down 63% in 6M

Ataa Educational profit down 63% in 6M
The drop in the company’s interim profit was attributed to lower revenue and other revenues.
ATAA
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0.72% 42.05 0.30

Riyadh – Mubasher: Ataa Educational Company registered SAR 6.39 million in net earnings during the six-month period ended on 31 January 2021, a plunge of 63% from SAR 17.28 million in the prior-year period.

The drop in the company’s interim profit came despite the decrease in operating costs by 22% and was attributed to lower revenue and other revenues, according to a bourse statement on Sunday.

Revenues shrank by 25.2% annually in the six-month period ended last January to stand at SAR 63.188 million, while other revenues tumbled by 66%.