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.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 276.46 | 282.21 | 2.1 % |
| Net Income | 16.55 | 19.73 | 19.3 % |
| Average Shares | 6.00 | 6.00 | - |
| EPS (Riyals) | 2.76 | 3.29 | 19.3 % |
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 |
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