Riyadh – Mubasher: Arabian Internet and Communication Services Company (solutions) posted a 13.2% year-on-year (YoY) increase in net profit to SAR 1.19 billion in 2023 from SAR 1.05 billion.
The company’s revenues surged by 25.38% YoY to SAR 11.04 billion last year from SAR 8.80 billion, according to the annual consolidated financial results.
The earnings per share (EPS) reached SAR 10.02 in 2023, up from SAR 8.86 a year earlier.
Cash Dividends
Moreover, solutions’ board of directors recommended the distribution of SAR 714 million in cash dividends, or SAR 6 per share, for the year 2023.
The number of eligible shares amounts to 119 million.
During the first nine months (9M) of 2023, solutions recorded SAR 1.03 billion in net profit after Zakat and tax, 20.33% YoY higher from SAR 856 million.
In January, solutions signed a SAR 120 million agreement with Saudi Telecom Company (stc) for bulk-SMS service.
