Alqemam for Computer Systems Co. announces its Annual Financial results for the period ending on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 51,884,775 | 28,173,245 | 84.16 | ||
| Gross Profit (Loss) | 33,697,752 | 17,202,121 | 95.89 | ||
| Operational Profit (Loss) | 21,249,233 | 15,288,927 | 38.98 | ||
| Net profit (Loss) | 18,884,370 | 13,922,551 | 35.64 | ||
| Total Comprehensive Income | 18,866,043 | 13,434,490 | 40.43 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 70,758,200 | 51,895,055 | 36.35 | ||
| Profit (Loss) per Share | 6.29 | 4.64 | |||
| 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 | Alqemam for Computer Systems Co. announces 84% Revenue Increase Driven by Operational Excellence and Expansion
This growth is attributed to a strong focus on several key areas:
1- Improved Operational Efficiency 2- Expanded Customer Base and Offerings New products and Services 3- Client-Centric Approach and Deep Project Understanding which led to the increase in projects and contracts awarded
The increase is mainly due to the growth of the company’s business and sales in the main areas of customers and the commercial expansion. Alqemam secured contracts worth 20 million riyals for computer program development, IT systems projects, and digital transformation initiatives in the Assir region. In addition to signing an information technology and digital transformation contract with the Federation of Saudi Chambers in Riyadh, Alqemam also secured a contract to implement digital transformation standards with the Emirate of Al-Jouf. These contracts had a positive impact on revenues, reaching 51.9 million riyals this year compared to 28.2 million riyals in the previous year, reflecting a growth rate of 84.16%. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The revenue increase has translated into a strong financial performance for the company this year. Net profit grew by 35.64%, reaching 18.9 million riyals compared to 13.9 million riyals in the previous year. This is directly linked to the 84.16% increase in revenue, which climbed to 51.9 million riyals this year from 28.2 million riyals the prior year. Operating income also saw a significant rise of 38.98%, reaching 21.2 million riyals compared to 15.3 million riyals in the previous year. |
| 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) | N/A |
| Reclassification of Comparison Items | None |
| Additional Information | - |
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