Sure Global Tech Co. posted a net profit of SAR 15.9 million in H1 2023, a 21% increase from SAR 13.2 million a year earlier.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 112.45 | 82.67 | (26.5 %) |
| Gross Income | 24.40 | 28.88 | 18.4 % |
| Operating Income | 14.55 | 16.98 | 16.7 % |
| Net Income | 13.18 | 15.92 | 20.7 % |
| Average Shares | 7.69 | 7.69 | - |
| EPS (Riyals) | 1.71 | 2.07 | 20.7 % |
The profit growth was driven by a decline in the cost of revenues and other revenues. This was despite a 26% fall in total revenues compared with the same period a year ago.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 70.86 | 42.21 | (40.4 %) |
| Gross Income | 12.14 | 15.73 | 29.6 % |
| Operating Income | 6.78 | 8.94 | 31.8 % |
| Net Income | 6.08 | 7.85 | 29.1 % |
| Average Shares | 7.69 | 7.69 | - |
| EPS (Riyals) | 0.79 | 1.02 | 29.1 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 40.46 | 42.21 | 4.3 % |
| Gross Income | 13.16 | 15.73 | 19.5 % |
| Operating Income | 8.04 | 8.94 | 11.1 % |
| Net Income | 8.07 | 7.85 | (2.8 %) |
| Average Shares | 7.69 | 7.69 | - |
| EPS (Riyals) | 1.05 | 1.02 | (2.8 %) |
Shareholders’ equity, no minority interest, stood at SAR 101.72 million as of June 30, 2023, compared to SAR 84.59 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR/share) |
|
H1 2020 |
55.95 |
5.18 |
1.01 |
|
H2 2020 |
78.85 |
10.23 |
1.99 |
|
H1 2021 |
52.38 |
8.69 |
1.69 |
|
H2 2021 |
133.05 |
9.44 |
1.84 |
|
H1 2022 |
112.45 |
13.18 |
2.57 |
|
H2 2022 |
95.22 |
10.9 |
2.13 |
|
H1 2023 |
82.67 |
15.92 |
3.10 |
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