Saudi: Alkhaleej Training swings to profits in H1-23

: Alkhaleej Training and Education Company shifted to net profits after Zakat and tax worth SAR 8.59 million in the first half (H1) of 2023, against losses valued at SAR 19.01 million in H1-22.

Revenues amounted to SAR 421.49 million as of 30 June 2023, down 0.06% from SAR 421.75 million a year earlier, according to the interim income statements.

The earnings per share (EPS) hit SAR 0.05 in the first six months (6M) of 2023, compared to a loss per share of SAR 0.27 in 6M-22.

Financial Results for Q2-23

In the second quarter (Q2) of 2023, the Saudi-listed firm also turned profitable at SAR 2.39 million, versus losses of SAR 10.70 million in Q2-22.

The revenues hit SAR 212.55 million in the April-June 2023 period, an annual rise of 3.53% from SAR 205.31 million.

On a quarterly basis, the profits in Q2-23 increased by 64.12% from SAR 1.45 million in Q1-23, while the revenues grew by 1.73% from SAR 208.94 million.

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