2P’s strong results driven by all business units: CEO

Logo of Perfect Presentation for Commercial Services Co. (2P)

Perfect Presentation for Commercial Services Co. (2P) continued to report strong results and constant growth, driven by the performance of all business units. The company achieved the target revenues and net profit for Q1 2023, CEO, Ehssan Doughman, told Argaam in an interview.
 

All segments had almost the same contribution to the company’s quarterly profit, with a slightly higher contribution by the customer experience segment. Further, 2P’s product volume maintained the same level of the first quarter of 2022.
 

The company’s project revenues reached nearly SAR 215 million in Q1 2023, compared to SAR 103 million in Q1 2022. The value of projects under construction is expected to total SAR 1.8 billion, exclusive of VAT.
 

Total debts stood at SAR 290 million, divided into SAR 4.7 million and SAR 285.3 million long and short-term debts, respectively, Doughman noted, adding that these loans are used to finance operations.
 

Moreover, the operation of Al-Noor Specialist Hospital in Makkah Al-Mukarramah ensures a preventive maintenance three times a month. The company also has a contract with an Avaya agent. 2P conducted a cyber security test for the hospital’s website, in addition to a monthly training plan for employees. The project contributed to recruiting 18 employees.
 

“We are confident that 2P is able to achieve its goals and maintain growth across all business units, based on the size of business, projects under construction and Q1 performance,” the CEO concluded.

2P reported a 19% rise in Q1 2023 net profit to SAR 26.2 million, compared to SAR 22.1 million in the prior-year period, Argaam earlier reported.