Saudi Azm for Communication and Information Technology Co. reported a net profit of SAR 14 million for the first half ended Dec. 31, 2023, leaping 24.1% from SAR 11.3 million in the year-earlier period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 102.92 | 107.42 | 4.4 % |
| Gross Income | 22.56 | 25.76 | 14.2 % |
| Operating Income | 11.56 | 14.23 | 23.1 % |
| Net Income | 10.98 | 13.41 | 22.2 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Halala) | 18.30 | 22.36 | 22.2 % |
The profit growth was driven by a SAR 3.2 million increase in gross profit on higher revenues. The company also cited higher other income by SAR 1.36 million.
However, operating expenses increased by SAR 0.53 million, while investment in an associate fell by SAR 0.54 million. Financing costs went up SAR 0.47 million. Zakat and tax expenses also increased by SAR 0.29 million.
Total shareholders’ equity, excluding minority interest, amounted to SAR 82.6 million at the end of the current period, compared to SAR 57.7 million a year earlier.
|
Azm Interim Financials |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2020/21 |
69.44 |
9.40 |
15.67 |
|
H2 2020/21 |
65.70 |
6.14 |
10.22 |
|
H1 2021/22 |
73.25 |
8.00 |
13.33 |
|
H2 2021/22 |
79.31 |
11.11 |
18.51 |
|
H1 2022/23 |
102.92 |
10.98 |
18.30 |
|
H2 2022/23 |
87.45 |
12.10 |
20.17 |
|
H1 2023/24 |
107.42 |
13.80 |
23.00 |
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}}