Saudi Networkers Services posts revenue growth to SAR 156 mln by end of April 2022

Logo of Saudi Networkers Services Co. (SNS)

Saudi Networkers Services Co. (SNS) adopted an expansion and growth strategy as part of its development vision, posting revenue growth of nearly SAR 156 million by the end of April 2022, maintaining the same growth in the year-earlier period. Net profit reached SAR 15.7 million, up from SAR 11.2 million a year earlier. 

Saudi Networkers Services Company (SNS) adopts a growth and expansion methodology in its developmental vision. As of 30 April 2022, SNS revenues reached around SAR 156 million, which is mostly equivalent to the revenues realized in the same period in 2021. Its net profit reached SAR 15.7 million, indicating a net profit margin at 10.06%, compared to a net profit of SAR 11.2 million at 7.12% during the same period of the last year.

SNS revenues were generated from the telecommunications sector at 38.9%, the banking sector at 23.8%, the government and semi-governmental sector at 13.9%, the information technology sector at 11.6%, the services sector at 8.3% and various sectors at 3.6%i.

Saudi Networkers Services Company has launched several initiatives, such as nationalization of jobs, contribution to reducing unemployment rate and increasing women's participation in the labor force by providing employment opportunities for the female citizens. The company has also been able to strengthen its management base by employing experienced Saudi cadres and by providing specialized solutions through a highly knowledgeable sales team supported by an internal team that has outstanding expertise in telecommunications and information technology infrastructure.

While constantly developing the services and the consultations in the telecommunications and information technology sector, SNS focuses particularly on the repair and maintenance of telecommunication and radar towers and stations, electrical wiring, telecommunication wiring, networking, maintenance services for buildings, and installation of computer and telecommunication networks. Other advisory services that suit customers’ needs are also provided.

It is worth mentioning that the Kingdom aims to invest 32.1 billion dollars in the information technology and telecommunications sectorii. Official resources have pointed out that the sector has grown by 8% between 2019 and 2021 as part of the Kingdom's vision 2030 economic diversification key planiii. The Saudi telecommunications and information technology sector contribution in the gross domestic product reached SAR 146.9 billion in 2021, with a potential for the contribution to reach SAR 200 billion in 2022iv.

The Kingdom Vision 2030 supports all disciplines of the technology sector, as it emphasizes on the strategic importance of the digital economy. The Kingdom is also hosting and organizing many telecommunications and information technology events that promote direct communication and exchange of experiences and ideas aiming to transfer the technology to the Kingdom. This strategy is characterized by establishing strong partnerships that target developing the private sector and providing economic opportunities for companies and institutions working in the information technology and telecommunication field to expand their businesses and acquire strategic investment opportunities and consequently boost their performance in the medium-run and the long-run.