Academy of Learning posts 12% surge in profit ahead of Saudi listing

RIYADH: Academy of Learning Co. has reported a 12 percent rise in profit for 2021 ahead of listing on the Saudi stock exchange’s parallel market Nomu.

The Dammam-based company made profits of SR16.2 million ($4.32 million) last year, compared to SR14.5 million a year earlier, Argaam reported.

The results came on the back of a 25 percent revenue jump to SR42.3 million, despite incurring higher day-to-day and marketing costs.