Riyadh – Mubasher: Alkhaleej Training and Education Company turned profitable at SAR 224,214 in 2022, against net losses after Zakat and tax worth SAR 33.34 million in 2021.

The Saudi firm generated SAR 880.89 million in revenue as of 31 December 2022, up 4.34% year-on-year (YoY) from SAR 844.21 million, according to the annual income statements.

Earnings per share (EPS) amounted to SAR 0.05 last year, compared to a loss per share valued at SAR 0.69 in the January-December 2021 period.

In the first nine months (9M) of 2022, the company’s net profits after Zakat and tax hiked by 2,994% YoY to SAR 10.25 million from SAR 331,524.

Revenues increased by 7.29% to SAR 655.03 million in 9M-22 from SAR 610.50 million in 9M-21, while the EPS surged to SAR 0.16 from SAR 0.01.