{"id":86890,"date":"2024-06-05T00:00:00","date_gmt":"2024-06-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/05\/ataa-education-sees-revenue-net-income-inch-up-in-1q-2024\/"},"modified":"2024-06-05T00:00:00","modified_gmt":"2024-06-05T00:00:00","slug":"ataa-education-sees-revenue-net-income-inch-up-in-1q-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/05\/ataa-education-sees-revenue-net-income-inch-up-in-1q-2024\/","title":{"rendered":"Ataa Education sees revenue, net income inch up in 1Q 2024"},"content":{"rendered":"

Ataa Educational<\/a><\/strong>\u2019s net income inched up 1.6% y-o-y to SAR 10.9 mn in 1Q 2024<\/strong> on SAR 161.4 mn in revenues, up 3.3% y-o-y, it said in a disclosure to Tadawul<\/a>. Its net income grew 7.4% y-o-y to SAR 44.4 mn over the first nine months of its fiscal year, which begins in July. Revenues grew 1.5% y-o-y during the same period to SAR 498.4 mn. <\/p>\n

Deep dive: <\/strong>The education group attributed its bottomline growth on the back of it acquiring minority interest in three schools \u2014 Al Yasmine<\/a>, Al Alsun<\/a> and Jeel AlMajd<\/a>. The rise in net income came despite the acquisitions increasing financing costs by 8% on a quarterly basis, and 24% on a yearly basis. Ataa\u2019s revenues also increased due to better performance in its education segment, which increased by 7%. <\/p>\n","protected":false},"excerpt":{"rendered":"

Net income grew due to acquisitions despite raising financing costs<\/p>\n","protected":false},"author":1,"featured_media":86891,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[285,10],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam-ksa","wpautop","entry"],"acf":{"mongo_id":"9744003f-ab6b-4ca0-9deb-af89bb8c53e5","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/429.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Ataa Education sees revenue, net income inch up in 1Q 2024","related_issue":[86873],"teaser":"Net income grew due to acquisitions despite raising financing costs","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.f01d39eb-6d29-484d-903b-992c123a4ae2.mp3"},"yoast_head":"\nAtaa Education sees revenue, net income inch up in 1Q 2024 - 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