Khaleej Training 4Q16 earnings fall 10% on lower top-line
Khaleej Training (4290.SE) reported 4Q16 net profit of SAR19.4mn, down 10% Y-o-Y, due to lower revenue from its educational segment. Revenue for the quarter decreased by 15% Y-o-Y to SAR151.8mn. Meanwhile, gross profit declined 12% Y-o-Y to SAR49.4mn, with gross margin flattish (+40bps) to 32.5%, while operating profit was down 9% Y-o-Y to SAR22.4mn with EBIT margin adding 70bps at 14.8%. (Company disclosure)
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