Riyadh – Mubasher: Alkhaleej Training and Education Company announced a year-on-year (YoY) rise of 21.47% in net profits after Zakat and tax to SAR 7.93 million during the third quarter (Q3) of 2021 from SAR 6.53 million.

The company attributed the YoY increase in Q3-21 profits to the revenues that increased by 14.8% to SAR 211.23 million in the same quarter from SAR 183.97 million in Q3-20, according to the initial income statement on Wednesday.

On a quarterly basis, Alkhaleej Training turned profitable in Q3-21 against losses worth SAR 3.41 million in Q2-21, while the revenues grew by 9% from SAR 193.39 million.

During the first nine months of 2021, the company posted a YoY plunge of 97.8% in net profits to SAR 331,524 from SAR 15.58 million.

Earnings per share stood at SAR 0.01 at the end of September this year, compared to SAR 0.35 during the same period in 2020.

Revenues increased by 5% YoY to SAR 610.5 million in January-September 2021 from SAR 579.32 million.