Arabian Internet and Communications Services Co. (solutions) reported a net profit after Zakat and tax of SAR 556 million in H1 2022, a rise of 21%, compared to SAR 461 million in the prior-year period.
This profit growth was motivated by a SAR 869 million year-on-year (YoY) increase in total revenue, which was offset by a higher revenue cost. The company also cited higher core ICT services, IT managed and operational services, as well as digital services.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 3,803.99 | 4,328.06 | 13.8 % |
| Gross Income | 821.47 | 998.57 | 21.6 % |
| Operating Income | 494.89 | 606.47 | 22.5 % |
| Net Income | 461.32 | 556.00 | 20.5 % |
| Average Shares | 120.00 | 120.00 | - |
| EPS (Riyals) | 3.84 | 4.63 | 20.5 % |
The company’s Q2 2022 net profit after Zakat and tax rose 7% to SAR 273 million from SAR 256 million a year earlier, driven by a SAR 73 million YoY jump in gross profit, SAR 317 million YoY surge in revenues on 20.8% higher core ICT service and a 21.8% rise in IT managed and operational services.
On a sequential basis, net profit fell by 3.5% from SAR 282.92 million in Q1 2022.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 1,937.20 | 2,085.15 | 7.6 % |
| Gross Income | 432.10 | 505.04 | 16.9 % |
| Operating Income | 270.60 | 293.52 | 8.5 % |
| Net Income | 256.12 | 273.09 | 6.6 % |
| Average Shares | 120.00 | 120.00 | - |
| EPS (Riyals) | 2.13 | 2.28 | 6.6 % |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 2,242.90 | 2,085.15 | (7.0 %) |
| Gross Income | 493.53 | 505.04 | 2.3 % |
| Operating Income | 312.95 | 293.52 | (6.2 %) |
| Net Income | 282.91 | 273.09 | (3.5 %) |
| Average Shares | 120.00 | 120.00 | - |
| EPS (Riyals) | 2.36 | 2.28 | (3.5 %) |
Total shareholders’ equity, excluding minority interest, stood at SAR 2.367 billion by the end of H1 2022, compared to SAR 2.065 billion in the year-earlier period.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}