Alkhaleej Training and Education Company inked a SAR 149.41 million contract with Saudi Electricity Company (SEC) on 1 October 2023.
Under the agreement, Alkhaleej Training will operate call centres for the subscriber services sector at SEC, according to a bourse disclosure.
The deal holds a 12-month duration period and is automatically renewed for another year with the same value.
The contract will reflect positivity on Alkhaleej Training’s income statements, starting from the fourth quarter (Q4) of 2023 and beyond.
During the first half (H1) of 2023, SEC posted 35.94% lower net profits after Zakat and tax at SAR 4.49 billion, compared to SAR 7.02 billion in H1-22.
Meanwhile, Alkhaleej Training turned profitable at SAR 8.59 million in the January-June 2023 period, versus net losses after Zakat and tax worth SAR 19.01 million a year earlier.
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