| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 739,536,063 | 657,896,566 | 12.41 | ||
| Gross Profit (Loss) | 335,015,236 | 293,649,949 | 14.09 | ||
| Operational Profit (Loss) | 202,741,210 | 186,207,664 | 8.88 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 170,070,200 | 160,710,827 | 5.82 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 171,551,637 | 158,968,686 | 7.92 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 926,042,858 | 861,991,221 | 7.43 | ||
| Profit (Loss) per Share | 3.96 | 3.74 | |||
| 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 12% compared to the previous year is mainly due to the increase in the number of students enrolled in the company’s schools by 10% from 31.9 thousand students in the previous year to 35.2 thousand students by the end of this year. |
| 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 12%.
Finance costs increased during the current year compared to the previous year due to the impact of land lease contracts related to the Khuzam Suburb and Dhahrat Laban projects in Riyadh, in addition to borrowing costs related to financing part of the purchase cost of land plots in Al-Rabie and Al-Yasmin districts in Riyadh and North Obhur district in Jeddah, as these borrowing costs only impacted part of the previous year.
Furthermore, an expected credit loss provision was recorded during the current year, driven by a higher proportion of receivables falling within older aging brackets. Additionally, Zakat expense increased during the current year compared to the previous year due to the reversal of a Zakat provision in the previous year following the finalization of Zakat assessments for prior years. Government grants and subsidies decreased during this year compared to the previous year due to a decrease in wage subsidies provided by the Human Resources Development Fund. |
| Statement of the type of external auditor’s report | Unmodified opinion |
| 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) | N/A |
| Reclassification of Comparison Items | N/A |
| Additional Information | The company uses a cost model option to measure properties. |
