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Saudi Azm for Communication and Information Technology Co. announces its Interim Financial results for the period ending on 2023-12-31 ( Six Months )
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 107,417,141 | 102,920,587 | 4.368 | ||
| Net profit (Loss) | 14,030,961 | 11,301,711 | 24.148 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 82,631,924 | 57,730,328 | 43.134 | ||
| Profit (Loss) per Share | 0.23 | 0.18 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Revenue was increased by 4.4% to reach SR 107.4 million compared to the corresponding period of previous year, primarily as a result of securing new projects. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Saudi AZM for Communication and Information Technology Co. achieved a net profit of SR 14.03 million in the first half of the year, increased by SR 2.73 million (24%) as compared to the corresponding period of previous year. The increase was mainly driven by the following:
- Increase in gross profit by SR 3.2 million as a result of increase in revenue. - Increase in other income by SR 1.36 million.
Despite the:
- Increase in operating expenses by SR 0.53 million. - Decrease in result from investment in an associate by SR 0.54 million. - Increase in finance cost by SR 0.47 million. - Increase in zakat and tax expenses by SR 0.29 million |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | None |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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