Financial Results : Digital Research’s 2024 earnings fall 44% to SAR 5.9M; H2 at SAR 2.7M

Digital Research’s 2024 earnings fall 44% to SAR 5.9M; H2 at SAR 2.7M

13/03/2025 Argaam Exclusive

View other reports

Digital Research Co.’s (DRC) net earnings fell 44% to SAR 5.9 million in 2024, from SAR 10.5 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 54.29 63.05 16.1 %
Gross Income 19.82 21.07 6.3 %
Operating Income 11.94 7.93 (33.6 %)
Net Income 10.53 5.93 (43.7 %)
Average Shares 1.50 1.50 -
Earnings Per Share before unusual items (Riyals) 7.02 3.95 (43.7 %)
EPS (Riyal) 7.02 3.95 (43.7 %)

The annual profit slump was fueled by a SAR 7.51 million rise in the 2024 cost of sales and a SAR 4.01 million (33.57%) drop in operating profit for the same year. This came as general & administrative expenses elevated by SAR 4.34 million, coupled with a SAR 920,000 uptick in selling & marketing expenses.

 

By the end of 2024, DRC's Zakat expenses increased by SAR 390,000, with financing costs also soaring by SAR 220,000.

 

This came despite the 6.3% year-on-year (YoY) hike in the company’s 2024 gross income to SAR 21.07 million. Revenues also increased 16.1% to SAR 63.1 million by the end of the same year, driven by new project awards.

 

In H2 2024, net profit declined 62% to SAR 2.7 million, from SAR 7.12 million in H2 2023.

 

DRC’s six-month bottom line also shed 14.2% from SAR 3.19 million in H1 2024.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 31.68 35.33 11.5 %
Gross Income 11.45 10.54 (8.0 %)
Operating Income 8.29 3.92 (52.7 %)
Net Income 7.12 2.74 (61.5 %)
Average Shares 1.50 1.50 -
Earnings Per Share before unusual items (Riyal) 4.75 1.83 (61.5 %)
EPS (Riyal) 4.75 1.83 (61.5 %)

Total shareholders’ equity, no minority interest, surged to SAR 37.34 million as of Dec. 31, 2024, compared to SAR 21.32 million a year earlier.

View More Financial Results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.