Naseej for Technology Co. (Naseej Tech) reported a 23% fall in H1 2022 net profit after Zakat and tax to SAR 7.6 million, from SAR 9.9 million in the same period a year earlier.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 93.37 | 94.85 | 1.6 % |
| Gross Income | 30.16 | 29.17 | (3.3 %) |
| Operating Income | 13.19 | 9.91 | (24.9 %) |
| Net Income | 9.87 | 7.61 | (22.9 %) |
| Average Shares | 5.00 | 5.00 | - |
| EPS (Riyals) | 1.97 | 1.52 | (22.9 %) |
The company was hit by higher general and administrative expenses (G&A) on increased professional fees related to the company’s direct listing. It also recorded an increase in salary expenses in the six-month period.
Total shareholders’ equity, after minority interest, rose to SAR 101.232 million by the end of the six-month period, from SAR 93.839 million a year earlier.
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