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. Academy of Learning is currently in the process of joining the Kingdom’s parallel Nomu market as a direct listing, with price guidance of SR40 per share. The company operates in the Saudi education and training sector through 12 educational institutes across Dammam, Al Khobar, Al Ahsa, Al Jubail, and Qatif.