solutions by stc, the leading company in enabling digital transformation in the kingdom and the region, announced its financial results for the year 2024, recording a net profit of 1,597 million Saudi Riyals, which is an increase of 33.98% compared to 2023. Revenues grew to 12,064 million Saudi Riyals, reflecting a 9.28% increase compared to the previous year. The company also reported a 7.12% increase in gross profit, amounting to 2,783 million Saudi Riyals, compared to 2,598 million Saudi Riyals in 2023.
Commenting on the financial results, the CEO of solutions by stc, Eng. Omar bin Abdullah Alnomany, stated: “Our positive financial results reflect the stc group’s strategy to expand our business and its scope, as well as the strength and efficiency of the solutions by stc strategy. We have continued to expand our operations and provide innovative technological solutions that meet the aspirations of our customers according to the highest global standards. This growth demonstrates our commitment to delivering added value to our shareholders and enhancing our leadership in the telecommunications and information technology sector within the kingdom and the region.”
It is noteworthy that solutions has a rich track record of over 30 years in providing information technology services in the kingdom and the region, which has qualified it
to become the leading provider of IT services in the kingdom and one of the largest contributors to accelerating the pace of digital transformation across all sectors in the kingdom.