Khaleej Training 1Q2016 earnings drop 47% Y-o-Y on weaker revenue and higher financing costs
Khaleej Training Company (4290.SE) reported 1Q2016 net income of SAR8.2 million, falling c47% Y-o-Y (-62% Q-o-Q), which the company attributed to weaker revenue from its training and educational projects segments, as well as increased financing costs. Gross profit for the quarter came in at SAR35.5 million, down 16% Y-o-Y, while net operating profit dropped 39% Y-o-Y, reaching SAR11.5 million as SG&A expenses were flat. (Company disclosure)
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