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Edarat Communication and Information Technology Co.(EDARAT) announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 39,870,539 | 28,541,735 | 39.69 | ||
| Gross Profit (Loss) | 16,716,899 | 13,651,877 | 22.45 | ||
| Operational Profit (Loss) | 9,459,742 | 7,207,566 | 31.25 | ||
| Net Profit (Loss) after Zakat and Tax | 8,268,076 | 6,272,317 | 31.82 | ||
| Total Comprehensive Income | 8,268,076 | 6,272,317 | 31.82 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 29,727,652 | 15,717,501 | 89.14 | ||
| Profit (Loss) per Share | 6.56 | 4.97 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Period Compared to Previous Period is Attributed to | The 31.82% increase in H1 2023 Net Profit compared to last year same period H1 2022 is mainly due to the increase in overall revenues by 39.69% driven by the significant growth of 126% in revenues in EdaratCloud services as well as a steady growth of 30% in Data Center services compared to same period of last year. The increase in net profit comes despite of the continuous investment in cloud infrastructure expansion and human capital to support the business growth. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | NA |
| Additional Information | Earnings per share is calculated based on the revised number of shares following the bonus share issue of 1:1 on 18 May 2023 through the capital increase from SAR 6.3M to SAR 12.6M. The earnings per share for H1 2023 stands at 6.56 compared to 4.97 for H1 2022. |
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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Last Price 350.8
Net Change 12.0 (+3.54%)
Value Traded (Sar) 2,484,714.6
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