Perfect Presentation for Commercial Services Co. (2P) posted a net profit of SAR 131.5 million in 2022, a 63% increase from SAR 80.6 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 655.48 | 927.17 | 41.4 % |
| Gross Income | 116.01 | 199.38 | 71.9 % |
| Operating Income | 86.24 | 159.23 | 84.6 % |
| Net Income | 80.62 | 131.46 | 63.1 % |
| Average Shares | 150.00 | 150.00 | - |
| EPS (Riyals) | 0.54 | 0.88 | 63.1 % |
The positive performance was driven by a 41.5% year-on-year (YoY) increase in revenue to SAR 927.2 million, as the growth momentum continued across the company’s business lines: customer experience, operation & maintenance and software development.
Projects under implementation reached a record high at SAR 1.73 billion in 2022, increasing 55% YoY.
Gross profit increased by 55.5% in 2022 to reach SAR 180.4 million, supported mainly by enhanced revenue performance. This translated into a higher gross profit margin of 19.5% last year, compared to 17.7% in 2021.
Moreover, operating profit grew 60.1% YoY to SAR 138.1 million in 2022, largely outweighing the 34% increase in selling, general and administrative expenses.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 228.06 | 288.06 | 26.3 % |
| Gross Income | 45.18 | 71.22 | 57.6 % |
| Operating Income | 43.47 | 55.82 | 28.4 % |
| Net Income | 41.65 | 46.40 | 11.4 % |
| Average Shares | 150.00 | 150.00 | - |
| EPS (Riyals) | 0.28 | 0.31 | 11.4 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 207.37 | 288.06 | 38.9 % |
| Gross Income | 49.55 | 71.22 | 43.7 % |
| Operating Income | 39.56 | 55.82 | 41.1 % |
| Net Income | 32.26 | 46.40 | 43.9 % |
| Average Shares | 150.00 | 150.00 | - |
| EPS (Riyals) | 0.22 | 0.31 | 43.9 % |
The fourth-quarter 2022 net profit rose 11% to SAR 46.4 million from SAR 41.6 million a year earlier.
Sequentially, net profit rose 43.9% from SAR 32.2 million in Q3 2022.
Total shareholders’ equity, no minority interest, stood at SAR 253.60 million as of Dec. 31, 2022, compared to SAR 159.72 million a year earlier.
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