Sure Global Technology Reports 16% Increase in Net Profit to SAR 33 Million in 2024

Sure Global Technology reported a net profit of SAR 33 million for 2024, up 16% from SAR 29 million in 2023, following the release of its preliminary financial results for the period ending December 31, 2024.

Operating profit increased by 25%, reaching SAR 38 million in 2024, compared to SAR 30 million in 2023. Total shareholders’ equity, excluding non-controlling interests, grew by 6% to SAR 121 million, up from SAR 114 million in 2023. Earnings per share climbed to SAR 4.41 in 2024, compared to SAR 3.73 in 2023.

According to the company’s statement on Tadawul, revenues increased by 26.93% to SAR 52.32 million. This growth was driven primarily by a 77.30% rise in managed services revenue, a 13.23% increase in revenue from the infrastructure sector, and an 8.98% growth in product revenue, partially offset by a 25.88% decline in digital services revenue.