Naseej for Technology Co. announces its Annual Financial results for the period ending on 2024-12-31

27 March 2025 05:20 PM

NASEEJ TECH 9538 6.52% 49.00 3.00

Element List	Current Year	Previous Year	%Change
Sales/Revenue	246,808,616	215,224,567	14.67
Gross Profit (Loss)	59,384,356	64,857,975	-8.44
Operational Profit (Loss)	17,473,886	17,036,864	2.56
Net profit (Loss)	4,064,290	13,351,492	-69.56
Total Comprehensive Income	5,262,568	13,232,161	-60.23
Total Shareholders Equity (after Deducting Minority Equity)	133,831,972	129,026,900	3.72
Profit (Loss) per Share	0.76	2.61
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year	The increase in revenue growth by 14.7% can be attributed to the enhanced execution ratio of projects currently underway, including those contracted and commenced within the 2024 fiscal year.
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	Profit margin decreases due to the company's efforts to improve the quality of its products and project deliverables, accelerate execution, and enhance operational capabilities, most notably with regard to the MEDAD Cloud Platform. Net profit for the year decreased due to an increase in the provision for credit losses to hedge against delays in payment in one of company projects.
Statement of the type of external auditor's report	Unmodified opinion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	None.
Reclassification of Comparison Items	None.
Additional Information	-

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