According to the results of the company for the Saudi market (Tadawul) today, Sunday, the profits for the period amounted to 12.344 million riyals, compared to the profits of the first quarter of last year of 12.013 million riyals. p>
The company said in a statement to the Stock Exchange today that the increase in profits during the comparison periods is due to the increase in revenues due to the increase in student numbers by 4% compared to last year.
She explained that this increase came despite the increase in provisions for doubtful debts 413% as a result of the creation of additional allocations in anticipation of the economic effects of the Corona pandemic, and increased funding costs 125% and the return To receive the entire buildings of Al-Ruwad Schools Complex in the Seville neighborhood and the impact of the application of Standard No. (16).
The company recorded revenues of 249.68 million riyals in the first quarter of this year, compared to revenue of 237.65 million riyals in the same period of 2019, an increase of 5.1%. < / p>
