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 Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 70.86 42.21 (40.4 %)
Gross Income 12.14 15.73 29.6 %
Operating Income 6.78 8.94 31.8 %
Net Income 6.08 7.85 29.1 %
Average Shares 7.69 7.69 -
EPS (Riyals) 0.79 1.02 29.1 %

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 Net Income Change EPS(Riyal)
Q1 2014 - - - - - - -
Q2 2014 - - - - - - -
Q3 2014 - - - - - - -
Q4 2014 - - - - - - -
Q1 2015 - - - - - - -
Q2 2015 - - - - - - -
Q3 2015 - - - - - - -
Q4 2015 - - - - - - -
Q1 2016 - - - - - - -
Q2 2016 - - - - - - -
Q3 2016 - - - - - - -
Q4 2016 - - - - - - -
Q1 2017 - - - - - - -
Q2 2017 - - - - - - -
Q3 2017 - - - - - - -
Q4 2017 - - - - - - -
Q1 2018 - - - - - - -
Q2 2018 - - - - - - -
Q3 2018 - - - - - - -
Q4 2018 - - - - - - -
Q1 2019 - - - - - - -
Q2 2019 - - - - - - -
Q3 2019 - - - - - - -
Q4 2019 - - - - - - -
Q1 2020 19.10 - 6.48 - 2.67 - 0.36
Q2 2020 36.86 - 7.20 - 2.51 - 0.33
Q3 2020 - - - - - - -
Q4 2020 - - - - - - -
Q1 2021 24.27 27.1 % 9.63 48.6 % 5.30 98.7 % 0.69
Q2 2021 28.10 (23.8 %) 8.67 20.4 % 3.39 34.9 % 0.44
Q3 2021 - - - - - - -
Q4 2021 - - - - - - -
Q1 2022 41.59 71.3 % 12.26 27.3 % 7.11 34.1 % 0.92
Q2 2022 70.86 152.1 % 12.14 40.0 % 6.08 79.3 % 0.79
Q3 2022 - - - - - - -
Q4 2022 - - - - - - -
Q1 2023 40.46 (2.7 %) 13.16 7.3 % 8.07 13.6 % 1.05
Q2 2023 42.21 (40.4 %) 15.73 29.6 % 7.85 29.1 % 1.02

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 33.94 % - 13.96 %
Q2 2020 24.45 % - 9.25 %
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 29.06 % - 13.06 %
Q2 2021 29.52 % - 12.80 %
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 28.86 % - 13.99 %
Q2 2022 25.90 % - 13.27 %
Q3 2022 - - -
Q4 2022 - - -
Q1 2023 25.54 % - 13.62 %
Q2 2023 27.31 % - 14.92 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 7.50 0.36 0.36 -
Q2 2020 7.50 0.69 0.69 5.70
Q3 2020 - - - -
Q4 2020 - - - -
Q1 2021 7.69 1.36 1.36 -
Q2 2021 7.69 1.80 1.80 9.38
Q3 2021 - - - -
Q4 2021 - - - -
Q1 2022 7.69 2.38 2.38 -
Q2 2022 7.69 2.84 2.84 10.99
Q3 2022 - - - -
Q4 2022 - - - -
Q1 2023 7.69 3.20 3.20 -
Q2 2023 7.69 3.78 3.78 13.22

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 - - -
Q1 2023 9.98 9.98 -
Q2 2023 14.62 14.62 4.18

Business Segments (Million)

Compared With The
Period Infrastructure Managed Sevices Digital Services Products
Q2 2022 40.62 15.95 11.89 2.41
Q2 2023 7.93 17.22 14.52 2.54


Financial Ratios
Current
Market Cap (M Riyal) 635.96
Enterprise Value (EV) (M) 570.33
Shares Outstanding ((M)) 7.69
Book Value (BV) ( Riyal) 14.88
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 22.18
Price/book 5.56
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Share Price

Sure Global Tech Co.
82.70
(3.50) (4.06 %)

Sure Global Tech Co. (SURE)

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