Riyadh – Mubasher: Arabian Internet and Communication Services Company (solutions) achieved net profits after Zakat and tax worth SAR 643 million in the first half (H1) of 2023, up 15.65% from SAR 556 million in H1-22.
Revenues hiked by 24.26% year-on-year (YoY) to SAR 5.37 billion in H1-23 from SAR 4.32 billion, according to the initial financial results.
In the six-month period that ended on 30 June 2023, the earnings per share (EPS) amounted to SAR 5.41, an annual growth from SAR 4.68.
Financial Results for Q2-23
During the second quarter (Q2) of 2023, solutions registered SAR 340 million in net profit after Zakat and tax, a 24.54% surge from SAR 273 million in Q2-22.
The Tadawul-listed firm posted revenues valued at SAR 2.70 billion in the April-June 2023 period, higher by 29.54% YoY than SAR 2.08 billion.
On a quarterly basis, the Q2-23 net profits increased by 11.84% from SAR 304 million in Q1-23, while the revenues inched up by 0.39% from SAR 2.67 billion.
