{"id":4337,"date":"2022-11-16T05:17:29","date_gmt":"2022-11-16T05:17:29","guid":{"rendered":"https:\/\/edunew.ibda.io\/?p=4337"},"modified":"2025-04-14T17:27:20","modified_gmt":"2025-04-14T17:27:20","slug":"2022-fiscal-year-end-financial-results","status":"publish","type":"post","link":"https:\/\/edunew.ibda.io\/en\/2022-fiscal-year-end-financial-results\/","title":{"rendered":"2022 Fiscal year-end financial results"},"content":{"rendered":"<div>\n<p>By the end of the fiscal year ending on August 31, 2022, NCLE, which establishes and manages private schools for public education in the Kingdom, had reported a profit of\u00a071.1\u00a0million riyals, up from\u00a024.5\u00a0million riyals\u00a0achieved in 2021.<\/p>\n<\/div>\n<div>\n<p>Profits increased during the current quarter compared to the same quarter last year for the following reasons:<\/p>\n<\/div>\n<div>\n<p>A\u00a075%\u00a0increase in revenues was achieved compared to the previous year, primarily because the number of students in the company&#8217;s schools increased by\u00a029%\u00a0from 13.3 thousand last year to\u00a017.1\u00a0thousand by the end of the current year, in addition to an increase in tuition fees in comparison to last year, which included exceptional discounts as a result of the Corona pandemic, which the company announced at the time. The increase in profits came despite the decrease in government grants and subsidies during the current year compared to the previous year, which is mainly due to the company benefiting from the government initiative \u201cSaned\u201d related to mitigating the financial effects of the repercussions of the emerging Coronavirus during the previous year. Furthermore, shareholders&#8217; equity (no minority rights) for the current period totaled\u00a0650.548\u00a0million riyals, compared to\u00a0614.999\u00a0million riyals\u00a0last year at the end of the same period. Moreover, a new educational complex for TNS Schools was opened in Al-Arid district at the beginning of the current year\u00a02021-2022, contributing to the increase in the number of enrolled students. This move also helped to attract students to enroll in the newly opened TNS Schools such as Qayrawan and Buraydah branches. During the current year, the company achieved profitability rates before the Corona pandemic, despite the high operational costs of operating modern complexes.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The profits of the NCLE increased to 71.1 million riyals for the fiscal year ending on August 31, 2022 .. the profits of the fourth quarter amounted to 16.2 million riyals.<\/p>\n","protected":false},"author":1,"featured_media":658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"output-rule":[91],"class_list":["post-4337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-magazines","output-rule-only-english"],"acf":[],"_links":{"self":[{"href":"https:\/\/edunew.ibda.io\/en\/wp-json\/wp\/v2\/posts\/4337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunew.ibda.io\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunew.ibda.io\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunew.ibda.io\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/edunew.ibda.io\/en\/wp-json\/wp\/v2\/comments?post=4337"}],"version-history":[{"count":1,"href":"https:\/\/edunew.ibda.io\/en\/wp-json\/wp\/v2\/posts\/4337\/revisions"}],"predecessor-version":[{"id":4338,"href":"https:\/\/edunew.ibda.io\/en\/wp-json\/wp\/v2\/posts\/4337\/revisions\/4338"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunew.ibda.io\/en\/wp-json\/wp\/v2\/media\/658"}],"wp:attachment":[{"href":"https:\/\/edunew.ibda.io\/en\/wp-json\/wp\/v2\/media?parent=4337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunew.ibda.io\/en\/wp-json\/wp\/v2\/categories?post=4337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunew.ibda.io\/en\/wp-json\/wp\/v2\/tags?post=4337"},{"taxonomy":"output-rule","embeddable":true,"href":"https:\/\/edunew.ibda.io\/en\/wp-json\/wp\/v2\/output-rule?post=4337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}