Financial Results : Saudi Azm net profit leaps 29% to SAR 18.1M in H1 2024/25

Saudi Azm net profit leaps 29% to SAR 18.1M in H1 2024/25

02/02/2025 Argaam Exclusive

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Saudi Azm for Communication and Information Technology Co. reported a net profit of SAR 18.1 million for the first half ended Dec. 31, 2024, leaping 29% from SAR 14 million in the year-earlier period.



Current Half Annual Comparison (M)

Compared With The
Item H1 2024 H1 2025 Change‬
Revenues 99.85 124.63 24.8 %
Gross Income 25.76 35.28 36.9 %
Operating Income 14.23 15.95 12.0 %
Net Income 14.03 18.05 28.7 %
Average Shares 60.00 60.00 -
Earnings Per Share before unusual items 0.23 0.30 28.7 %
EPS (Halala) 23.39 30.09 28.7 %

The profit growth was driven by a 24.82% revenue increase to SAR 124.63 million during the current period compared to last year, primarily as a result of securing new projects and earning more from existing projects.

 

In addition, there was an increase in gross profit by SAR 9.52 million on higher revenue.

 

The company also reported a rise in the share of results from investment in associates by SAR 1.55 million and an increase in other income by SAR 1.58 million.

 

On the other hand, operating expenses grew by SAR 7.81 million, finance costs by SAR 0.51 million and Zakat and income tax expenses by SAR 0.3 million.

Total shareholders’ equity, excluding minority interest, amounted to SAR 119.98 million at the end of the current period, compared to SAR 82.63 million a year earlier.

 

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