December 11, 2024
(eng)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 163,661,194 | 140,695,039 | 16.323 | 141,892,557 | 15.341 |
| Gross Profit (Loss) | 73,499,277 | 59,580,838 | 23.36 | 95,993,182 | -23.432 |
| Operational Profit (Loss) | 43,969,016 | 36,392,532 | 20.818 | 63,477,689 | -30.733 |
| Net profit (Loss) | 38,113,433 | 31,059,010 | 22.712 | 57,982,154 | -34.266 |
| Total Comprehensive Income | 38,588,733 | 31,030,962 | 24.355 | 58,067,730 | -33.545 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 831,911,268 | 735,752,965 | 13.069 |
| Profit (Loss) per Share | 0.89 | 0.72 | |
| 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 thousand students in the same quarter of the previous year to 31.8 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 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 23% compared to the same quarter of the previous year is due to the increase in revenue by 16% compared to the same quarter of the previous year.
The marketing and advertising expenses have increased during the current quarter compared to the same quarter 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 quarter (from 1 August 2024 to 31 October 2024) included a portion of the marketing campaign expenses related to the enrolment for the beginning of the school year, whereas the comparative quarter (from 1 September 2023 to 30 November 2023) did not include the months in which these marketing campaign expenses were incurred. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The increase in revenue during the current quarter by 15% compared to the previous quarter 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 quarter to 31.8 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 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 (loss) during the current quarter compared to the previous one is | Despite the increase in revenue during the current quarter by 15% compared to the previous quarter, the net profit decreased by 34% compared to the previous quarter. This is due to the impact of changing the company’s fiscal year-end and issuing the financial statements for the previous year as a short fiscal year (11 months). As a result, the last quarter of the previous fiscal year (the previous quarter) was a short period of only two months (from 1 June 2024 to 31 July 2024). Consequently, the remaining revenue from tuition fees for three full months was recorded in the previous quarter, while costs and expenses were recorded for only two months, which affected the comparison with the current quarter’s results. |
| 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 interim condensed consolidated financial statements, which describe the Company changed its year-end to start on the first of August and end by the end of July every year. Accordingly, the company’s interim condensed consolidated financial statements were prepared for the period from 1 August 2024 to 31 October 2024 (three months), with comparative figures for the period from 1 September 2023 to 30 November 2023 (three 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 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) while the comparative figures for the fiscal year 2023 were (12 months). The condensed interim consolidated financial statements were also issued for the period from 1 August 2024 to 31 October 2024 (three months), compared to the period from 1 September 2023 to 30 November 2023 (three months).
– The company uses a cost model option to measure properties. |
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