Perfect Presentation for Commercial Services Co. (2P) reported a 7% profit rise in the first nine months of 2023 to SAR 90.5 million from SAR 85.1 million a year earlier.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 639.11 | 741.77 | 16.1 % |
| Gross Income | 128.17 | 150.97 | 17.8 % |
| Operating Income | 103.41 | 115.92 | 12.1 % |
| Net Income | 85.05 | 90.54 | 6.5 % |
| Average Shares | 150.00 | 150.00 | - |
| EPS (Riyals) | 0.57 | 0.60 | 6.5 % |
The nine-month revenue increased 16% to SAR 742 million, as a result of the sustained improvement in software development. Gross profit increased 18% to SAR 151 million, due to the robust growth in revenue during the period. Gross margins reached 20.4%, compared to 20.1% in 9M 2022.
In Q3 2023, net profit grew 4% year-on-year (YoY) to SAR 33.6 million, from SAR 32.26 million in Q3 2022.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 207.37 | 270.32 | 30.4 % |
| Gross Income | 49.55 | 56.65 | 14.3 % |
| Operating Income | 39.56 | 44.03 | 11.3 % |
| Net Income | 32.26 | 33.58 | 4.1 % |
| Average Shares | 150.00 | 150.00 | - |
| EPS (Riyals) | 0.22 | 0.22 | 4.1 % |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 246.36 | 270.32 | 9.7 % |
| Gross Income | 52.19 | 56.65 | 8.6 % |
| Operating Income | 38.84 | 44.03 | 13.4 % |
| Net Income | 30.76 | 33.58 | 9.2 % |
| Average Shares | 150.00 | 150.00 | - |
| EPS (Riyals) | 0.21 | 0.22 | 9.2 % |
Revenue increased 30% to SAR 270 million, driven by the continued improvement in the performance of the company’s software development and operation & maintenance segments during the period, and the contribution of managed services.
In addition, gross profit increased 14% to SAR 57 million, while gross margins stood at 21%, compared to 23.9% in Q3 2022. Moreover, operating profit grew 11% to SAR 44 million in Q3 2023, from SAR 40 million in Q3 2022.
On a quarterly basis, net profit rose 9.2% from SAR 30.76 million.
Total shareholders’ equity, no minority interest, rose to SAR 343.92 million by Sept. 30, 2023, from SAR 219.20 million in a prior-year period.
Attached Documents
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