Naseej for Technology Co. posted a net profit of SAR 21.9 million in 2022, a 6% increase from SAR 20.7 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 194.42 | 215.07 | 10.6 % |
| Gross Income | 60.83 | 64.91 | 6.7 % |
| Operating Income | 25.12 | 25.27 | 0.6 % |
| Net Income | 20.71 | 21.85 | 5.5 % |
| Average Shares | 5.00 | 5.00 | - |
| EPS (Riyals) | 4.14 | 4.37 | 5.5 % |
The positive performance was driven by a 10.6% year-on-year (YoY) rise in revenue to reach SAR 215 million in 2022 from SAR 194.4 in 2021.
The company maintained a gross profit margin above 30%, which contributed to a 6.7% uptick in gross profit to SAR 64.5 million from SAR 60.8 million in the previous year.
This was despite an 11% jump in operating expenses on costs of listing on Nomu-Parallel Market, most of which were carried in 2022. This is besides additional costs stemming from strengthening the corporate governance system and the remuneration of the board of directors and affiliated committees.
Shareholders’ equity, excluding minority interest, stood at SAR 116.14 million as of Dec. 31, 2022, compared to SAR 93.83 million a year earlier.
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}}