Ataa's education segment likely to maintain strong performance: CEO

The education segment reported 8% year-on-year (YoY) net profit growth, reaching SAR 88 million. However, the recruitment and training segments experienced losses of SAR 11.6 million and SAR 9 million, respectively.

The CEO attributed the company’s lower earnings to the increasing losses of these two segments, noting that the number of students reached 44,400 by the end of the fourth quarter of 2023/24.

He also pointed out that Al-Izdihar Compound contributed the most to Ataa’s revenues.

Altuwaijri further stated that the uptick in tuition fees during the current year contributed to 4% YoY growth in the education segment’s topline.

Ataa’s profit decreased to SAR 63.4 million for the fiscal year (FY) ended July 31, 2024, compared to SAR 67.8 million in FY 2022/23. The fourth-quarter profit amounted to SAR 19 million, Argaam's data showed.