Saudi Azm for Communication and Information Technology Co. reported a net profit of SAR 23.4 million for the second half ended June 30, 2023, a 23% increase from SAR 19.1 million in the year-earlier period.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 152.56 | 190.37 | 24.8 % |
| Gross Income | 30.81 | 38.47 | 24.9 % |
| Operating Income | 14.52 | 17.33 | 19.3 % |
| Net Income | 19.10 | 23.08 | 20.8 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Halala) | 31.84 | 38.47 | 20.8 % |
The profit rise was spurred by a 24.78% increase YoY in revenues to SAR 190.36 million, which led to a 24.87% growth in gross profit to SAR 38.47 million. Other income also increased to SAR 7.66 million YoY.
Total shareholders’ equity, no minority interest, stood at SAR 68.42 million as of June 30, 2023, compared to SAR 51.83 million in the year-ago period.
|
Historical Financial Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2020/2021 |
69.44 |
9.40 |
0.16 |
|
H2 2020/2021 |
65.70 |
6.14 |
0.10 |
|
H1 2021/2022 |
73.25 |
8.00 |
0.13 |
|
H2 2021/2022 |
79.31 |
11.11 |
0.19 |
|
H1 2022/2023 |
102.92 |
10.98 |
0.18 |
|
H2 2022/2023 |
87.45 |
12.42 |
0.21 |
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