Riyadh – Mubasher: National Company for Learning and Education (NCLE) has announced that its Doha Hills Schools Project in Dhahran, Saudi Arabia, is expected to be operational as of the beginning of the academic year 2020/2021.
The postponement of the project’s operation is attributable to the delay in the issuance of required licences, according to a bourse statement released on Tuesday.
The estimated cost of the project has not undergone a considerable change due to the delay of operation commencement, NCLE said.
The Tadawul-listed company noted that the delay is not expected to have a material impact on its financial statements for the fiscal year 2020/2021.
It is worth noting that NCLE’s net profit after zakat and tax went up to SAR 11.64 million in the three-month period ended 30 November 2019, compared to SAR 11.47 million in the year-ago period.
