2P 9M 2023 profit grows 7% to SAR 90.5 mln; Q3 at SAR 33.6 mln

Perfect Presentation for Commercial Services Co. (2P) reported a 7% profit rise in the first nine months of 2023 to SAR 90.5 million from SAR 85.1 million a year earlier.

The nine-month revenue increased 16% to SAR 742 million, as a result of the sustained improvement in software development. Gross profit increased 18% to SAR 151 million, due to the robust growth in revenue during the period. Gross margins reached 20.4%, compared to 20.1% in 9M 2022.

In Q3 2023, net profit grew 4% year-on-year (YoY) to SAR 33.6 million, from SAR 32.26 million in Q3 2022.

Revenue increased 30% to SAR 270 million, driven by the continued improvement in the performance of the company’s software development and operation & maintenance segments during the period, and the contribution of managed services.

In addition, gross profit increased 14% to SAR 57 million, while gross margins stood at 21%, compared to 23.9% in Q3 2022. Moreover, operating profit grew 11% to SAR 44 million in Q3 2023, from SAR 40 million in Q3 2022.

On a quarterly basis, net profit rose 9.2% from SAR 30.76 million.

Total shareholders’ equity, no minority interest, rose to SAR 343.92 million by Sept. 30, 2023, from SAR 219.20 million in a prior-year period.

Attached Documents

View more financial results