– Revenues for the first half of 2023 exceeded 5.3 billion SAR, marking 24.3% increase compared to 4.3 billion SAR for the corresponding half of 2022.
– Total profit for the first half of 2023 exceeded 1.3 SAR billion, representing a 33.9% increase compared to 999 million SAR for the corresponding half of 2022.
The Arabian Internet and Communication Service Company “solutions by stc” announced its financial results for the first half of 2023, the company’s total profit exceeded 1.3 billion SAR, representing a 33.9% increase compared to the corresponding half of 2022. Revenues increased by 24.3% to reach more than 5.3 billion SAR. The net profit reached 643 million SAR, marking a 15.7% increase compared to the corresponding period last year.
Commenting on the financial results during the second quarter of 2023, the Chief Financial officer of “solutions by stc” Abdulrahman bin Hamad AlRubaia said: “We continue to achieve growth and positive financial results during the second quarter of 2023. We are growing in our business segments and expanding in new business lines, through our recent acquisitions, and we are committed to deliver the best value for our shareholders and customers.”
The second quarter of 2023 witnessed a number of significant announcements for “solutions”, including the completion of the acquisition of Contact Center Company “ccc”, the Kingdom’s leading business process outsourcing (BPO) company, and the signing of a binding offer to acquire 40% of “Devoteam Middle East”, the region’s leading digital consulting company, in line with solutions’ ambitious growth strategy to expand in new markets and business lines.
Furthermore, “solutions’” signed various agreements with the public and private sectors including the implementation of a unified operations managed services project with the National Center for Government “NCGR”” with a value exceeding 444 million SAR to enable digital transformation.
“solutions by stc” continues to record outstanding financial results which strengthens its leadership in the information and communication technology sector in Saudi Arabia.