Advance International Company for Communication and Information Technology (AICTEC) reported a 17% drop in H1 2023 net profit to SAR 4.5 million, compared to SAR 5.5 million in H1 2022.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 21.05 | 23.23 | 10.4 % |
| Gross Income | 10.81 | 10.64 | (1.5 %) |
| Operating Income | 4.69 | 4.34 | (7.5 %) |
| Net Income | 5.45 | 4.50 | (17.3 %) |
| Average Shares | 64.00 | 64.00 | - |
| EPS (Halala) | 8.51 | 7.03 | (17.3 %) |
AICTEC reported higher operating expenses (OpEx), as well as general and administrative expenses, despite better operating revenue. The cost of sales also increased on higher shipping and transportation costs.
The company said the operating revenue rose due to growth in the revenue from wholesale products related to control and access systems, security gates, metal detectors, baggage scanners, and surveillance cameras.
Shareholders’ equity, no minority interest, increased to SAR 38.75 million as of June 30, 2023, from SAR 32.15 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue |
Net Profit |
EPS |
|
H1 2020 |
11.05 |
1.55 |
0.48 |
|
H2 2020 |
21.78 |
7.43 |
2.33 |
|
H1 2021 |
12.77 |
4.27 |
1.33 |
|
H2 2021 |
17.34 |
0.98 |
0.31 |
|
H1 2022 |
21.92 |
5.45 |
1.70 |
|
H2 2022 |
20.71 |
2.21 |
0.69 |
|
H1 2023 |
23.23 |
4.5 |
1.41 |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}