Saudi Azm for Communication and Information Technology Co. reported a net profit of SAR 28 million for the fiscal year (FY) ended June 30, 2024, a 21% rise from SAR 23.1 million in the year-earlier period.
Item | 2023 | 2024 | Change |
---|---|---|---|
Revenues | 170.83 | 217.64 | 27.4 % |
Gross Income | 38.47 | 57.82 | 50.3 % |
Operating Income | 17.33 | 27.68 | 59.7 % |
Net Income | 23.08 | 27.95 | 21.1 % |
Average Shares | 60.00 | 60.00 | - |
EPS (Halala) | 38.47 | 46.58 | 21.1 % |
Item | H2 2023 | H2 2024 | Change |
---|---|---|---|
Revenues | 67.91 | 110.22 | 62.3 % |
Gross Income | 15.91 | 32.06 | 101.5 % |
Operating Income | 5.77 | 13.44 | 133.2 % |
Net Income | 12.10 | 14.53 | 20.1 % |
Average Shares | 60.00 | 60.00 | - |
EPS (Halala) | 20.17 | 24.22 | 20.1 % |
Item | H1 2024 | H2 2024 | Change |
---|---|---|---|
Revenues | 107.42 | 110.22 | 2.6 % |
Gross Income | 25.76 | 32.06 | 24.4 % |
Operating Income | 14.23 | 13.44 | (5.6 %) |
Net Income | 13.41 | 14.53 | 8.3 % |
Average Shares | 60.00 | 60.00 | - |
EPS (Halala) | 22.36 | 24.22 | 8.3 % |
The annual profit hike was spurred by the SAR 19.35 million year-on-year (YoY) increase in gross profit. This came amid higher revenues due to winning new projects, coupled with the elevated investment in an associate of SAR 240,000.
However, for the same period, operating expenses and financing costs climbed YoY by SAR 9 million and SAR 370,000, respectively. Further, other revenues plunged by SAR 2.6 million YoY amid the leap in Zakat and income tax expenses by SAR 1.42 million.
Shareholders’ equity, after minority interest, amounted to SAR 88.44 million by the end of the 12-month period, compared to SAR 68.42 million a year earlier.
Historical Data |
|||
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
H1 2020/2021 |
69.44 |
9.40 |
15.67 |
H2 2020/2021 |
65.70 |
6.14 |
10.22 |
H1 2021/2022 |
73.25 |
8.00 |
13.33 |
H2 2021/2022 |
79.31 |
11.11 |
18.51 |
H1 2022/2023 |
102.92 |
10.98 |
18.30 |
H2 2022/2023 |
87.45 |
12.10 |
20.17 |
H1 2023/2024 |
107.42 |
13.41 |
22.36 |
H2 2023/2024 |
217.64 |
28.2 |
47.00 |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}