Saudi Networkers Services Co. (SNS) posted a jump of 14% in H1 2022 net profit after Zakat and tax to SAR 20.6 million, compared to SAR 18 million in the year-earlier period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 235.31 | 229.57 | (2.4 %) |
| Gross Income | 32.56 | 32.75 | 0.6 % |
| Operating Income | 20.18 | 21.21 | 5.1 % |
| Net Income | 17.98 | 20.58 | 14.5 % |
| Average Shares | 6.00 | 6.00 | - |
| EPS (Riyals) | 3.00 | 3.43 | 14.5 % |
The higher profit was driven by the reversals of old accrual balances, related to accrued employees cost, which are no longer payable, along with some additional cost savings.
Shareholders’ equity, after minority interest, came in at SAR 66.804 million as of June 30, 2022, up from SAR 63.392 million a year earlier.
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