Riyadh – Mubasher: Ataa Educational Company’s net profits after Zakat and tax amounted to SAR 45.88 million in the nine months ended 30 April 2020, up by 2.4% from SAR 44.77 million in the same period a year earlier.
On an annual basis, revenues increased by 5% to stand at SAR 249.68 million in the nine-month period from SAR 237.6 million, according to a bourse disclosure on Sunday.
The higher earnings were due to an increase in revenues by 5% as the number of students grew by 4% annually in the nine-month period despite a 121% rise in additional provisions for doubtful debts. Additionally, financing costs advanced by 123%.
During the three months ending 30 April, Ataa Educational net profits after Zakat and tax amounted to SAR 12.3 million, 2.7% higher than SAR 12 million in the same period a year earlier.
Earlier this year, the company’s extraordinary general assembly meeting (EGM) approved the distribution of SAR 40 million as cash dividends to shareholders for the fiscal year (FY) ended on 31 July 2019.
