March 13, 2025
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 164,061,620 | 141,036,820 | 16.325 | 163,661,194 | 0.244 |
| Gross Profit (Loss) | 70,543,321 | 62,780,691 | 12.364 | 73,499,277 | -4.021 |
| Operational Profit (Loss) | 46,868,833 | 40,065,710 | 16.979 | 43,969,016 | 6.595 |
| Net profit (Loss) | 40,110,194 | 33,993,255 | 17.994 | 38,113,433 | 5.238 |
| Total Comprehensive Income | 39,695,171 | 35,291,070 | 12.479 | 38,588,733 | 2.867 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 327,722,814 | 281,731,859 | 16.324 |
| Gross Profit (Loss) | 144,042,598 | 122,361,529 | 17.718 |
| Operational Profit (Loss) | 90,837,849 | 76,458,242 | 18.807 |
| Net profit (Loss) | 78,223,627 | 65,052,265 | 20.247 |
| Total Comprehensive Income | 78,283,904 | 66,322,032 | 18.036 |
| Total Shareholders Equity (after Deducting Minority Equity) | 781,306,439 | 700,094,035 | 11.6 |
| Profit (Loss) per Share | 1.82 | 1.51 | |
| 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 quarter compared to the same quarter of the last year is | The increase in revenue during the current quarter by 16% compared to the same quarter of 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 same quarter of the previous year to 31.9 thousand students during the current quarter.
In addition, 4 new educational campuses were opened in the city of Riyadh at the beginning of the current 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 quarter compared to the same quarter of the last year is | The increase in net profit during the current quarter by 18% compared to the same quarter of the previous year is due to an increase in revenue by 16% compared to the same quarter of the previous year.
Additionally, the government grants and subsidies have decreased during the current quarter compared to the same quarter of the previous year due to the decrease in the wage subsidies provided by the Human Resources Development Fund. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The slight increase in revenue during the current quarter compared to the previous quarter is due to the slight increase in the number of students enrolled in the company’s schools during the second academic semester. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The increase in net profit during the current quarter by 5% compared to the previous quarter is due to the slight increase in revenue compared to the previous quarter and the decrease in the marketing and advertising expenses compared to the previous quarter. The decrease in the marketing and advertising expenses is mainly due to the change in the company’s fiscal year-end to July 31 instead of August 31. Since the majority of these expenses are typically incurred during July and August. Therefore, the previous quarter (from 1 August 2024 to 31 October 2024) included the marketing campaign expenses related to the enrolment for the beginning of the school year, whereas the current quarter (from 1 November 2024 to 31 January 2025) did not include the months in which these marketing campaign expenses were incurred.
Additionally, the government grants and subsidies have decreased during the current quarter compared to the previous quarter, as the company received its annual support from the Ministry of Education during the previous quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The increase in revenue during the current period by 16% compared to the same period of 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 same period of the previous year to 31.9 thousand students during the current period.
In addition, 4 new educational campuses were opened in the city of Riyadh at the beginning of the current 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 period compared to the same period of the last year is | The increase in net profit during the current period by 20% compared to same period of the previous year is due to an increase in revenue by 16% compared to the same period of the previous year.
The marketing and advertising expenses have increased during the current period compared to same period of the previous year. The increase is mainly due to the change in the company’s fiscal year-end to July 31 instead of August 31. Since the majority of these expenses are typically incurred during July and August. Therefore, the current period (from 1 August 2024 to 31 January 2025) included the marketing campaign expenses related to the enrolment for the beginning of the school year, whereas the comparative period of the previous year (from 1 September 2023 to 29 February 2024) did not include the months in which these marketing campaign expenses were incurred. |
| 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 to the interim condensed consolidated financial statements, which explains that the Company has changed its year-end to start on the first of August and end by the end of July of every year. Accordingly, the company’s interim condensed consolidated financial statements were prepared for the period from 1 August 2024 to 31 January 2025 (three month and six-month period), with comparative figures for the period from 1 September 2023 to 29 February 2024 (three month and six-month period). 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 Company’s financial statements for the fiscal year 2024 were issued from 1 September 2023 to 31 July 2024 as a short fiscal year (11 months), after which each fiscal year becomes twelve months. The condensed interim consolidated financial statements were also issued for the period from 1 August 2024 to 31 January 2025 (three month and six-month period) compared to the period from 1 September 2023 to 29 February 2024 (three month and six-month period) which represent the condensed interim consolidated financial statements previously issued and disclosed for the three month and six-month period ended 29 February 2024.
– The company uses a cost model option to measure properties. |
[ssba-buttons]
