Advance International Company for Communication and Information Technology (AICTEC) reported a 46% rise in 2022 net profit to SAR 7.7 million, from SAR 5.3 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 30.11 | 41.76 | 38.7 % |
| Gross Income | 18.90 | 18.32 | (3.1 %) |
| Operating Income | 6.45 | 7.35 | 13.9 % |
| Net Income | 5.25 | 7.66 | 46.0 % |
| Average Shares | 64.00 | 64.00 | - |
| EPS (Halala) | 8.20 | 11.97 | 46.0 % |
The profit growth was attributed to higher revenues from project services related to control and entry systems, security gates, metal detection, bags, sales of surveillance cameras, licenses of systems and programs developed by the company.
Shareholders’ equity, no minority interest, rose to SAR 34.25 million as of Dec. 31, 2022, up from SAR 26.71 million a year earlier.
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