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Ataa Educational Co. announces its Interim Financial Results for the Period Ending on 2023-10-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 170,498 | 167,787 | 1.61 | 175,087 | -2.62 |
| Gross Profit (Loss) | 55,399 | 49,966 | 10.87 | 72,715 | -23.81 |
| Operational Profit (Loss) | 32,975 | 29,586 | 11.45 | 37,863 | -12.91 |
| Net Profit (Loss) after Zakat and Tax | 22,051 | 21,061 | 4.7 | 26,447 | -16.62 |
| Total Comprehensive Income | 22,051 | 21,061 | 4.7 | 26,447 | -16.62 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 808,821 | 842,585 | -4.01 |
| Profit (Loss) per Share | 0.52 | 0.5 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| 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 reason for the increase in net profit during the current quarter compared to the same quarter last year is due to: 1- The increase in tuition fees in some of the company’s complexes resulted in an increase in revenues by 2% compared to the same quarter of the previous year. 2- An increase in other revenues by 1% as a result of the increase in revenues from operating canteens, and courses, and activities 3- Acquisition of minority rights in the Companies (Al-Yasmine, Al-Alson & Jeel AlMajd). This is despite the following factors: 1-An increase in financing costs by 42% compared to the same quarter of the previous year due to borrowing related to the purchase of minority rights in the Companies (Jasmine, Al-Alson, Jel AlMajd), and the purchase of Irqa land in addition to the rise in SIBOR prices. 2- Marketing expenses increased by 44% compared to the same quarter of the previous year |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | Proving the full profits of minority rights for the companies in which minority rights were acquired (Al-Yasmine - Al-Alson – Jeel AlMajd) for the entire fiscal year 2023 in the fourth quarter, due to the completion of the regulatory procedures for the acquisition at the end of the fiscal year 2023 AD. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | There is no notes |
| Reclassification of Comparison Items | Some opening balances have been adjusted as shown in the financial statements. For more details, please refer to disclosure No. (15) in the financial statements. |
| Additional Information | We want to draw the attention of our esteemed shareholders to the fact that the interim condensed consolidated financial statements for the period ending on October 31, 2023, will be available on the company’s website. www.ataa.sa The company would also like to draw the attention of financial analysts and investors that their inquiries about the company’s annual business results should be made through e-mail. ir@ataa.sa This will be within 10 days from the publication date of the financial statements. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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