| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 657,896,566 | 565,470,136 | 16.34 | ||
| Gross Profit (Loss) | 293,649,949 | 281,231,419 | 4.42 | ||
| Operational Profit (Loss) | 186,207,664 | 180,717,785 | 3.04 | ||
| Net profit (Loss) | 160,710,827 | 157,832,299 | 1.82 | ||
| Total Comprehensive Income | 158,968,686 | 159,550,532 | -0.36 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 861,991,221 | 793,322,535 | 8.65 | ||
| Profit (Loss) per Share | 3.74 | 3.67 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | – | – | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The increase in revenue during this year by 16% compared to the previous year is mainly due to the increase in the number of students enrolled in the company’s schools by 13% from 28.2 thousand students in the previous year to 31.9 thousand students by the end of this year. In addition, 4 new educational campuses were opened in the city of Riyadh at the beginning of the academic year 2024-2025, under the name of TNS in Qurtubah District, TNS in Al-Narjis District, National School in Hetteen District, and MEIA in Al-Qairawan District. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The increase in net profit during this year compared to the previous year is due to the increase in revenue by 16%.
This year also recorded a reversal of a portion of the expected credit loss provision, due to improved collection rates of accounts receivable. Additionally, Zakat expense has decreased this year compared to the previous year due to the reversal of a Zakat provision, following the completion of Zakat assessments of previous years.
The financing costs have also increased during this year compared to the previous year. This increase is due to the impact of the lease contract for the educational campus building of MEIA in Al-Qairawan district, which was opened at the beginning of the academic year 2024–2025, in addition to the financing costs related to the loan used to partially fund the purchase of land plots in Al-Rabie District – Riyadh and North Obhur District – Jeddah.
Additionally, the government grants and subsidies have decreased during this year compared to the previous year due to the decrease in the wage subsidies provided by the Human Resources Development Fund.
It should be noted that the net profit for the previous fiscal year 2024, based on the internally prepared financial statements, which included the recognition of full revenues and expenses for a (12 months) period, is estimated at SR 131 million. Accordingly, the growth in net profit for this year represents 22% compared to the previous fiscal year.
As the change in the Company’s fiscal year-end affected the results of the previous fiscal year, the financial statements for that year were prepared as a short fiscal year of (11 months). Consequently, the full tuition revenues for the 2023–2024 academic year were recognized, while costs and expenses were recorded for a period of (11 months) only. |
| Statement of the type of external auditor’s report | Notice |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | We draw attention to Note (1) in the notes accompanying the consolidated financial statements, which describes the Group changed its fiscal year to start on the first of August and end by the end of July of each year. Accordingly, the company’s financial statements were prepared for the year ended as at 31 July 2025 (twelve months), with comparative figures for the period from 1 September 2023 to 31 July 2024 (eleven months). Our opinion on this matter has not been modified. |
| Reclassification of Comparison Items | N/A |
| Additional Information | – The Company’s General Assembly approved on 4 July 2024, a change in the Company’s fiscal year end to July 31 of each Gregorian year instead of August 31. Accordingly, the consolidated financial statements for the previous fiscal year 2024 were prepared for the period from 1 September 2023 to 31 July 2024 as a short financial year of (11 months), while the figures for the fiscal year 2025 represent a period of (12 months). Accordingly, the amounts presented in the consolidated financial statements are not entirely comparable.
– The company uses a cost model option to measure properties. |
