Ataa Educational Co. reported a net profit after Zakat and tax of SAR 75.8 for the fiscal year ended July 31, 2020, an 8.4% year-on-year (YoY) decline.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 320.59 | 336.38 | 4.9 % |
| Gross Income | 107.85 | 116.26 | 7.8 % |
| Operating Income | 85.42 | 85.75 | 0.4 % |
| Net Income | 82.75 | 75.80 | (8.4 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 2.07 | 1.89 | (8.4 %) |
The decline in net profit was attributed to the increase in allowance for doubtful debts as the company booked additional provisions to meet expected economic impacts of the global outbreak. The company also cited the increase in financing charges as a result of implementing IFRS (16) related to rent contracts starting from August 1, 2019.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 82.94 | 86.70 | 4.5 % |
| Gross Income | 43.69 | 40.70 | (6.9 %) |
| Operating Income | 38.87 | 32.95 | (15.2 %) |
| Net Income | 37.97 | 29.92 | (21.2 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.95 | 0.75 | (21.2 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 84.09 | 86.70 | 3.1 % |
| Gross Income | 25.15 | 40.70 | 61.8 % |
| Operating Income | 15.73 | 32.95 | 109.4 % |
| Net Income | 12.34 | 29.92 | 142.4 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.31 | 0.75 | 142.4 % |
The company reported a net profit of SAR 29.92 in Q4 ended July 31, 2020, a 21.2% YoY decrease.
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