Naseej Tech net profit up 6% to SAR 21.9 mln in 2022

29/03/2023 Argaam Exclusive

View other reports

Naseej for Technology Co. posted a net profit of SAR 21.9 million in 2022, a 6% increase from SAR 20.7 million a year earlier.

Financials (M)

Item	2021	2022	Change‬
Revenues	194.42	215.07	10.6 %
Gross Income	60.83	64.91	6.7 %
Operating Income	25.12	25.27	0.6 %
Net Income	20.71	21.86	5.6 %
Average Shares	5.00	5.00	-
EPS (Riyals)	4.14	4.37	5.6 %

The positive performance was driven by a 10.6% year-on-year (YoY) rise in revenue to reach SAR 215 million in 2022 from SAR 194.4 in 2021.

The company maintained a gross profit margin above 30%, which contributed to a 6.7% uptick in gross profit to SAR 64.5 million from SAR 60.8 million in the previous year.

This was despite an 11% jump in operating expenses on costs of listing on Nomu-Parallel Market, most of which were carried in 2022. This is besides additional costs stemming from strengthening the corporate governance system and the remuneration of the board of directors and affiliated committees.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2021	H2 2022	Change‬
Revenues	101.06	120.22	19.0 %
Gross Income	30.67	35.74	16.5 %
Operating Income	11.92	15.36	28.8 %
Net Income	10.84	14.25	31.4 %
Average Shares	5.00	5.00	-
EPS (Riyals)	2.17	2.85	31.4 %

Item	H1 2022	H2 2022	Change‬
Revenues	94.85	120.22	26.7 %
Gross Income	29.17	35.74	22.5 %
Operating Income	9.91	15.36	54.9 %
Net Income	7.61	14.25	87.3 %
Average Shares	5.00	5.00	-
EPS (Riyals)	1.52	2.85	87.3 %

Shareholders’ equity, excluding minority interest, stood at SAR 116.14 million as of Dec. 31, 2022, compared to SAR 93.83 million a year earlier.

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×