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19-Oct-2016

Khaleej Training reports positive 3Q16 net profit up 24% Y-o-Y, driven by dividend income

Khaleej Training (4290.SE) reported 3Q16 net profit of SAR20.5mn (up 24% Y-o-Y), as  the company received dividend income from its associate company, NWH Holdings (15% stake). Results were, however, affected negatively by lower revenue from the training segment to both individual and government entities, as well as educational projects segment and higher net finance costs due to an increase in operating lease. Gross profit for the quarter was flattish (-2% Y-o-Y) at SAR40.5mn, while operating profit declined 4% Y-o-Y to SAR17.7mn (Company disclosure)

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