Sure profit up 33% to SAR 24.1 mln in 2022

26/03/2023 Argaam Exclusive

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Sure Global Tech Co.
85.40
0.10 0.12 %

Sure Global Tech Co. (SURE)

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Sure Global Tech Co. posted a net profit of SAR 24.1 million in 2022, a 33% increase from SAR 18.1 million a year earlier.



Financials (M)

Item 2021 2022 Change‬
Revenues 185.43 207.67 12.0 %
Gross Income 41.16 51.41 24.9 %
Operating Income 21.87 26.82 22.7 %
Net Income 18.13 24.08 32.8 %
Average Shares 7.69 7.69 -
EPS (Riyals) 2.36 3.13 32.8 %

The positive performance was driven by a 12% increase in revenues driven by the product segment, where the customer base expanded leading to a larger market share. In addition, revenues grew in the infrastructure segment and professional and digital services segment.



Shareholders’ equity, no minority interest, stood at SAR 96.06 million as of Dec. 31, 2022, compared to SAR 81.67 million a year earlier.

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