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Naseej for Technology announces SAR 14m agreement

Naseej for Technology announces SAR 14m agreement
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Riyadh – Mubasher: Naseej for Technology Company inked a project deal valued at SAR 14 million with the Saudi Ministry of Culture, according to a bourse filing.

Under the 24-month agreement, the firm will handle the artistic treatment for the sterilisation, restoration, and digitisation of the historical holdings of the Ministry of Culture.

The awarding and signing dates of the contract were 9 February and 7 June 2023, respectively.

Naseej for Technology expected that the contract will reflect positively on its income statements during the years 2023 and 2024.

Last January, the company teamed up with the Saudi Ministry of Education for a SAR 56.98 million project agreement to secure access to the information resources.

During the 12-month period that ended on 31 December 2022, Naseej for Technology logged 5.80% higher net profits after Zakat and tax at SAR 22.08 million, compared to SAR 20.87 million in a year earlier.

Revenues jumped by 10.62% to SAR 215.06 million last year from SAR 194.42 million in 2021, while the earnings per share (EPS) increased to SAR 4.37 from SAR 4.14.