Ataa Educational Co. announces its Annual Financial Results for the Period Ending on 2023-07-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 666,042 | 577,493 | 15.33 | ||
| Gross Profit (Loss) | 195,239 | 133,621 | 46.11 | ||
| Operational Profit (Loss) | 106,750 | 105,321 | 1.36 | ||
| Net Profit (Loss) after Zakat and Tax | 67,786 | 70,616 | -4.01 | ||
| Total Comprehensive Income | 65,531 | 68,383 | -4.17 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 824,890 | 859,646 | -4.04 | ||
| Profit (Loss) per Share | 1.61 | 1.68 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason for the decrease in net profit during the current year compared to the previous year is due to:
Proving 38.1 million riyals as a non-recurring gain in the previous period resulting from the acquisition of the Arab Education and Training Group Company (Disclosure No. 26 in the financial statements) By excluding the impact of these gains, as they are non-recurring and not a result of operation, there will be an increase in net profit for the current year by 109% compared with the previous year, due to the following: 1- The number of students increased by 6% from 42.4 thousand to 44.9 thousand students in addition to raising tuition fees in some educational complexes resulting in an increase in revenues by 15% compared to the previous year. 2- An increase in other revenues by 34% as a result of increased revenues from operating canteens, courses and activities. This is despite: 1- An increase in operating costs by 6%, mainly due to salaries and wages. 2- Financing costs increased by 31% compared with last year due to the financing related to the acquisition of the Arab Group for Education and Training, in addition to the increase in SIBOR prices. 3- An increase in marketing expenses by 167% compared with the previous year, related to the company’s marketing campaigns. 4- Losses incurred by the Recruitment sector. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | Not applicable |
| Reclassification of Comparison Items | Some elements of the statement of financial position and the income statement have been reclassified.
For more details, please refer to the Disclosure No. 35 in the financial statements |
| Additional Information | We would like to draw the attention of our valued shareholders that the consolidated financial statements for the fiscal year ending on July 31, 2023, will be available on the company's website at the following link ataa.sa after sending them to concerned authorities.
The company would also like to draw the attention of financial analysts and investors that their inquiries about the annual results should be addressed through the company's email [email protected] This is within 10 days from the date of publishing the financial statements; God bless all. |
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