Khaleej Training earnings drop 33% Y-o-Y, mainly on weaker top-line performance
Al Khaleej Training (4290.SE) reported KPIs for 4Q2015, with net income coming in at SAR21.6 million, declining 33% Y-o-Y (+31% Q-o-Q on seasonality), which the company attributed to a decline in revenue from educational projects and training segment, subsidiaries, as well as lower other income, according to the company’s disclosure. Gross profit for the period decreased 14% Y-o-Y to SAR56.1 million, while operating profit contracted a more significant 29% Y-o-Y to SAR24.7 million. (Company disclosure)
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