AICTEC Profits Increase to SR5.4 mln during H1 amounted to 27.6%

Advance International Company for Communication and Information Technology “AICTEC” revealed that the net profit after zakat and tax in the first half rose to SR5.4 million, compared to SR4.2 million in the same period last year, at a rate of 27.6%.
This came after announcement on Monday of the preliminary financial results for the period ending in 30.06.2022 (six months)
The operational profit amounted to SR5.5 million in the first half, compared to SR4.5 million in the same period of the previous year, a growth of 21.2%.
The gross shareholders’ equity “without minority rights” amounted to SR32.1 million in the 6-month period, compared to SR26.7 million in the same period last year, an increase of 20.3%.
Profits per share in the current period reached SR2.72, compared to SR2.13 in the same period last year.
The reason for the net profit is the increase in total sales for the current period compared to the same period of the previous year.