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Ataa Educational posted a SAR 19.6 mn bottom line in 1Q FY 2024-25, dipping 11.2% y-o-y, it said in a disclosure to Tadawul. The company attributed the fall to a 33% decline in its training segment revenues accompanied by the gradual opening of Buckswood Schools. Revenues were down 3% y-o-y to SAR 165.3 bn over the three-month period that ended in October.
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The school operator’s net income was up 3.2% q-o-q primarily driven by a 89% decrease in impairment provisions for receivables, while its revenues fell 1.6% q-o-q “due to additional discounts offered at some educational complexes,” the filing read.
ICYMI- Operated by Ataa, Sussex-based Buckswood British School opened the doors of its Riyadh branch (Buckswood Riyadh) this academic year. The K-12 school, located in Al Izdihar district, offers the IGCSE and IB Diploma programs and is open for both boys and girls.
