Saudi Networkers profit rises 19% to SAR 19.7M in H1 2024

27/08/2024 Argaam Exclusive

View other reports

Saudi Networkers Services Co. (SNS) reported an increase of 19% in H1 2024 net profit to SAR 19.7 million from SAR 16.5 million in the year-ago period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	276.46	282.21	2.1 %
Gross Income	32.23	37.70	17.0 %
Operating Income	18.74	22.82	21.8 %
Net Income	16.55	19.74	19.3 %
Average Shares	6.00	6.00	-
EPS (Riyals)	2.76	3.29	19.3 %

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	276.46	282.21	2.1 %
Gross Income	32.23	37.70	17.0 %
Operating Income	18.74	22.82	21.8 %
Net Income	16.55	19.74	19.3 %
Average Shares	6.00	6.00	-
EPS (Riyals)	2.76	3.29	19.3 %

Item	H2 2023	H1 2024	Change‬
Revenues	278.20	282.21	1.4 %
Gross Income	41.51	37.70	(9.2 %)
Operating Income	45.32	22.82	(49.6 %)
Net Income	40.89	19.74	(51.7 %)
Average Shares	6.00	6.00	-
EPS (Riyals)	6.81	3.29	(51.7 %)

The profit increase is driven by higher revenues, which rose to SAR 282.21 million compared to SAR 276.46 million in H1 2023— an increase of SAR 5.75 million or 2.08%.

The surge in revenue is due to improved commercial activities with the existing customers and the addition of new customers.

Gross profit increased by 16.97% (or SAR 5.47 million) to SAR 37.70 million, compared to SAR 32.23 million in H1 2023.

The operational profit stood at SAR 22.82 million, from SAR 18.74 million a year earlier.

Total shareholders’ equity, no minority interest, reached SAR 105.8 million as of June 30, 2024, compared to SAR 90.1 million a year earlier.

Historical Data
Period	Revenue	Net Profit	EPS
H1 2021	235.31	17.98	3.00
H2 2021	227.48	10.36	1.72
H1 2022	229.57	20.58	3.43
H2 2022	249.06	9.51	1.58
H1 2023	276.46	16.55	2.76
H2 2023	278.19	20.01	3.33
H1 2024	282.21	19.73	3.29

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.

×