Saudi Azm net profit rises 23% to SAR 19.1 mln in FY 2021/22

28/09/2022 Argaam Exclusive

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Saudi Azm for Communication and Information Technology Co. reported a net profit after Zakat and tax of SAR 19.1 million for the fiscal year ended June 30, 2022, a 23% rise from SAR 15.5 million in the year-earlier period.

Financials (M)

Item	2021	2022	Change‬
Revenues	135.14	152.56	12.9 %
Gross Income	29.23	30.81	5.4 %
Operating Income	16.46	14.52	(11.8 %)
Net Income	15.54	19.10	23.0 %
Average Shares	60.00	60.00	-
EPS (Halala)	25.89	31.84	23.0 %

Current Half Annual Comparison (M)

Compared With The

Item	H2 2021	H2 2022	Change‬
Revenues	65.70	79.31	20.7 %
Gross Income	15.02	15.12	0.7 %
Operating Income	6.42	5.76	(10.3 %)
Net Income	6.13	11.11	81.2 %
Average Shares	60.00	60.00	-
EPS (Halala)	10.22	18.51	81.2 %

Item	H1 2022	H2 2022	Change‬
Revenues	73.25	79.31	8.3 %
Gross Income	15.69	15.12	(3.6 %)
Operating Income	8.75	5.76	(34.1 %)
Net Income	8.00	11.11	38.9 %
Average Shares	60.00	60.00	-
EPS (Halala)	13.33	18.51	38.9 %

Shareholders’ equity, no minority interest, increased to SAR 51.84 million by the end of the 12-month period, up from SAR 32.55 million a year earlier.

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