RIYADH: Saudi National Co. for Learning and Education, or NCLE, reported a 378 percent increase in its net profits during the quarter ending on Nov. 30, 2021, compared to the same quarter last year.
The company’s net profits jumped to SR18 million ($4.7 million) during that quarter, up from SR3.7 million in the same period last year, according to a bourse filing.
The increase was driven by the return of schools in the post-pandemic period.
As a result, the number of students enrolled in NCLE’s educational centres rose by 17 percent during the current quarter, compared to corresponding quarter in 2020, increasing its revenues by 74 percent.
Founded in 1958, Riyadh-based National Co. for Learning and Education owns and operates several schools in the Kingdom.
