Sure Global Tech Co. reported a net profit rise of 2% to SAR 16.2 million for the first half of 2024, compared to SAR 15.9 million a year earlier.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 82.67 | 102.42 | 23.9 % |
| Net Income | 15.92 | 16.17 | 1.6 % |
| Average Shares | 7.69 | 7.69 | - |
| EPS (Riyals) | 2.07 | 2.10 | 1.6 % |
The profit rise was spurred by better revenue, as the company won new contracts in the six-month period. Sure’s top line jumped 23.89% year-on-year (YoY) to SAR 102.42 million.
The operating profit ratio stood at 8.44% in the first half, due to the increased cost of goods sold, as well as declines in other income and return on investment in an associate, in which Sure incurred a loss of SAR 877,000.
Total shareholders’ equity, no minority interest, rose to SAR 109.11 million by June 30, 2024, compared to SAR 101.72 million a year ago.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2020 |
55.95 |
5.18 |
0.69 |
|
H2 2020 |
78.85 |
10.23 |
1.36 |
|
H1 2021 |
52.38 |
8.69 |
1.13 |
|
H2 2021 |
133.05 |
9.44 |
1.23 |
|
H1 2022 |
112.45 |
13.18 |
1.71 |
|
H2 2022 |
95.22 |
10.90 |
1.42 |
|
H1 2023 |
82.67 |
15.92 |
2.07 |
|
H2 2023 |
111.62 |
12.75 |
1.66 |
|
H1 2024 |
102.42 |
16.17 |
2.10 |
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