Sure Global Technology Co. reported a net profit of SAR 18.1 million for 2021, an increase of 18% from SAR 15.4 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 134.80 | 185.43 | 37.6 % |
| Gross Income | 37.84 | 41.16 | 8.8 % |
| Operating Income | 19.12 | 21.87 | 14.4 % |
| Net Income | 15.41 | 18.13 | 17.6 % |
| Average Shares | 7.50 | 7.69 | 2.6 % |
| EPS (Riyals) | 2.05 | 2.36 | 14.7 % |
The increase was driven by a 38% year-on-year (YoY) rise in revenue and an 11% YoY decline in Zakat provision.
This came despite a 49% YoY increase in the cost of revenue, coupled with higher financing cost that reached SAR 562,000 in 2021 from 300,000 in the year before.
Shareholders’ equity (no minority interest) stood at SAR 81.67 million as of Dec. 31, 2021, from SAR 68.47 million a year earlier.
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