Sure net profit up 19% to SAR 28.7M in 2023

24/03/2024 Argaam Exclusive

View other reports

Sure Global Tech Co. reported a net profit of SAR 28.7 million for 2023, an increase of 19% compared to SAR 24.1 million a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	207.67	194.29	(6.4 %)
Gross Income	51.41	56.46	9.8 %
Operating Income	26.80	30.08	12.2 %
Net Income	24.08	28.67	19.1 %
Average Shares	7.69	7.69	-
EPS (Riyals)	3.13	3.73	19.1 %

This was propelled by an increase in revenues of managed services, digital services, and products segments. They represent profit margins higher than infrastructure segment, whose revenues slipped 6% year-on-year (YoY).

Operating profit rose 17% YoY, along with lower cost of revenue and higher other revenue

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	95.22	111.62	17.2 %
Gross Income	27.02	27.58	2.1 %
Operating Income	12.25	13.09	6.9 %
Net Income	10.89	12.76	17.1 %
Average Shares	7.69	7.69	-
EPS (Riyals)	1.42	1.66	17.1 %

Item	H1 2023	H2 2023	Change‬
Revenues	82.67	111.62	35.0 %
Gross Income	28.88	27.58	(4.5 %)
Operating Income	16.98	13.09	(22.9 %)
Net Income	15.92	12.76	(19.9 %)
Average Shares	7.69	7.69	-
EPS (Riyals)	2.07	1.66	(19.9 %)

Total shareholders’ equity, no minority interest, stood at SAR 114.46 million by Dec. 31, 2023, compared to SAR 96.06 million a year earlier.

Quarterly Results
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR/Share)
H1 2020	55.95	5.18	0.70
H2 2020	78.85	10.23	1.36
H1 2021	52.38	8.69	1.13
H2 2021	133.05	9.44	1.22
H1 2022	112.45	13.18	1.71
H2 2022	95.22	10.9	1.42
H1 2023	82.67	15.92	2.07
H2 2023	111.62	12.75	1.66

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.

×