Saudi Networkers profit leaps 14% to SAR 32.3 mln in 2022

27/03/2023 Argaam Exclusive

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Share Price

Saudi Networkers Services Co.
74.50
(1.50) (1.97 %)

Saudi Networkers Services Co. (NETWORKERS)

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Saudi Networkers Services Co. (SNS) reported a 14% jump in 2022 net profit to SAR 32.3 million, compared to SAR 28.4 million in 2021.



Financials (M)

Item 2021 2022 Change‬
Revenues 462.79 478.63 3.4 %
Gross Income 54.27 63.39 16.8 %
Operating Income 30.22 35.78 18.4 %
Net Income 28.34 30.10 6.2 %
Average Shares 6.00 6.00 -
EPS (Riyals) 4.72 5.02 6.2 %

The profit growth was spurred by higher revenue and additional cost savings.



Shareholders’ equity, after minority interest, rose to SAR 82.6 million as of Dec. 31, 2022, from SAR 57.3 million a year earlier.

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