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NCLE completes acquisition of Al Salam

NCLE completes acquisition of Al Salam
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Riyadh – Mubasher: The National Company for Learning and Education (NCLE) has fully acquired Al Salam Education and Training Company’s shares for SAR 72 million.

The ownership of Al Salam was transferred to NCLE after obtaining the required regulatory approvals, according to a bourse disclosure.

It is worth noting that the Tadawul-listed firm announced the transaction agreement last July.

During fiscal year (FY) 2021/2022, NCLE posted net profits after Zakat and tax worth SAR 71.04 million, higher by 190.49% than SAR 24.45 million in the year-ago period.

Revenues hiked by 75.21% year-on-year (YoY) to SAR 308.53 million in FY21/22 from SAR 176.08 million.

In the 12-month period which ended on 31 August 2022, the earnings per share (EPS) stood at SAR 1.65, up from SAR 0.57 during the same period a year earlier.