Sure profit up 21% to SAR 15.9 mln in H1 2023

Sure profit up 21% to SAR 15.9 mln in H1 2023

28/08/2023 Argaam Exclusive

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Sure Global Tech Co. posted a net profit of SAR 15.9 million in H1 2023, a 21% increase from SAR 13.2 million a year earlier.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 112.45 82.67 (26.5 %)
Gross Income 24.40 28.88 18.4 %
Operating Income 14.55 16.98 16.7 %
Net Income 13.18 15.92 20.7 %
Average Shares 7.69 7.69 -
EPS (Riyals) 1.71 2.07 20.7 %

The profit growth was driven by a decline in the cost of revenues and other revenues. This was despite a 26% fall in total revenues compared with the same period a year ago.  



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 112.45 82.67 (26.5 %)
Gross Income 24.40 28.88 18.4 %
Operating Income 14.55 16.98 16.7 %
Net Income 13.18 15.92 20.7 %
Average Shares 7.69 7.69 -
EPS (Riyals) 1.71 2.07 20.7 %

Shareholders’ equity, no minority interest, stood at SAR 101.72 million as of June 30, 2023, compared to SAR 84.59 million a year earlier.

 

Historical Data

Period

Revenue (SAR mln)

Net Profit (SAR mln)

EPS (SAR/share)

H1 2020

55.95

5.18

1.01

H2 2020

78.85

10.23

1.99

H1 2021

52.38

8.69

1.69

H2 2021

133.05

9.44

1.84

H1 2022

112.45

13.18

2.57

H2 2022

95.22

10.9

2.13

H1 2023

82.67

15.92

3.10

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 55.95 - 13.68 - 5.97 -
H2 2020 78.85 - 24.16 - 13.15 -
H1 2021 52.38 (6.4 %) 18.30 33.7 % 9.89 65.7 %
H2 2021 133.06 68.8 % 22.86 (5.4 %) 11.97 (9.0 %)
H1 2022 112.45 114.7 % 24.40 33.3 % 14.55 47.1 %
H2 2022 95.22 (28.4 %) 27.02 18.2 % 12.25 2.3 %
H1 2023 82.67 (26.5 %) 28.88 18.4 % 16.98 16.7 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 5.18 - 0.69 - 5.18 0.69
H2 2020 10.23 - 1.36 - 10.23 1.36
H1 2021 8.69 67.8 % 1.13 - 8.69 1.13
H2 2021 9.44 (7.8 %) 1.23 - 9.44 1.23
H1 2022 13.18 51.8 % 1.71 - 13.18 1.71
H2 2022 10.89 15.4 % 1.42 - 10.89 1.42
H1 2023 15.92 20.7 % 2.07 - 15.92 2.07

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 28.07 % 15.71 % 11.43 %
H1 2021 32.35 % 19.46 % 14.42 %
H2 2021 22.20 % 12.88 % 9.78 %
H1 2022 19.25 % 11.63 % 9.22 %
H2 2022 24.76 % 14.03 % 11.59 %
H1 2023 31.42 % 17.68 % 15.07 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 7.50 - - 5.70
H2 2020 7.50 2.05 2.05 9.13
H1 2021 7.69 2.46 2.46 9.38
H2 2021 7.69 2.36 2.36 10.61
H1 2022 7.69 2.94 2.94 10.99
H2 2022 7.69 3.13 3.13 12.48
H1 2023 7.69 3.48 3.48 13.22

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 8.73 8.73 2.19
H1 2023 15.86 15.86 4.18

Business Segments (Million)

Compared With The
Period Infrastructure Managed Sevices Digital Services Products
Q2 2022 54.16 34.50 20.38 3.42
Q4 2022 24.10 41.97 27.51 1.65
Q2 2023 12.92 38.81 27.74 3.21


Financial Ratios
Current
Market Cap (M Riyal) 692.10
Enterprise Value (EV) (M) 626.47
Shares Outstanding ((M)) 7.69
Book Value (BV) ( Riyal) 14.88
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 24.14
Price/book 6.05
more

Share Price

Sure Global Tech Co.
90.00
7.00 8.43 %

Sure Global Tech Co. (SURE)

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