Riyadh – Mubasher: Rawasi Albina Investment Company penned a purchase order agreement with the Saudi Telecom Company on 14 January 2024, according to a bourse disclosure.
The deal, which is valued at SAR 4.60 million, covers the replacement of electro-mechanic equipment for mobile, access, among others.
Rawasi Albina highlighted that the 9-month contract will reflect on its income statements during the second half (H2) of 2024.
In December 2023, the Saudi Electricity Company awarded Rawasi Albina a SAR 22.98 million project deal.
During the first half (H1) of 2023, Rawasi Albina logged net profits after Zakat and tax valued at SAR 15.12 million, an annual leap of 59.77% from SAR 9.46 million.
Sales hiked by 70.08% to SAR 94.20 million in H1-23 from SAR 55.38 million a year earlier, while the earnings per share (EPS) fell to SAR 0.28 from SAR 1.72.
