Money and business
Slushis’s profits to 1.59 billion riyals in 2024
The profits of the Arab Company for Internet and Communications (Slushis) increased in 2024 by 33.9% to 1.597 billion riyals, compared to 1.192 billion riyals in the year 2023.
According to the company’s statement on the circulation of Saudi Arabia, the reason for the rise in net profit during the year 2024 AD is an amount of 405 million riyals compared to the previous year mainly to:
– The total profit increased by 185 million riyals, as a result of the increase in revenues by 1,024 million riyals, which was met with a rise in revenue costs at an amount of 838 million riyals.
– The decrease in operational expenses in the amount of 88 million riyals, as a result of the decrease in sales and distribution expenses in the amount of 93 million riyals, despite the increase in public and administrative expenses at an amount of 5 million riyals.
– The decrease in Zakat and tax expenses in the amount of 171 million riyals, and this is mainly due to the reflection of the amounts of zakat related to previous periods after the end of the examination and linking with the Zakat, Tax and Customs Authority.
On the other hand, the total revenues/ other (expenses) were registered in the amount of (19) million riyals compared to 18 million riyals, due to the decrease in the financing revenues in the amount of (31) million riyals.
The Board of Directors (Slushis) recommended the distribution of (8) riyals as regular cash profits, in addition to (2) riyals as exceptional cash profits to the shareholders for the year 2024 AD, and will be presented to the General Assembly at its next meeting for voting.
The company said: The total amount distributed from regular cash profits is 952 million riyals, while the amount distributed from exceptional cash profits is 238 million riyals, with a total of 1.190 billion riyals.
The number of shares due for profits is 119 million shares, while the share share of distribution for regular cash profits is 8.0 riyals per share, and for exceptional cash profits: 2.0 riyals per share, with a total of 10 riyals.
The distribution rate to the value of the nominal share is 100%, while the dividend distributions for shareholders who are owned by shares will be at the end of the second trading day that follows the annual general assembly of the company, which will be announced later.
She noted the announcement of the date of the distribution later.
According to the company’s statement on the circulation of Saudi Arabia, the reason for the rise in net profit during the year 2024 AD is an amount of 405 million riyals compared to the previous year mainly to:
– The total profit increased by 185 million riyals, as a result of the increase in revenues by 1,024 million riyals, which was met with a rise in revenue costs at an amount of 838 million riyals.
– The decrease in operational expenses in the amount of 88 million riyals, as a result of the decrease in sales and distribution expenses in the amount of 93 million riyals, despite the increase in public and administrative expenses at an amount of 5 million riyals.
– The decrease in Zakat and tax expenses in the amount of 171 million riyals, and this is mainly due to the reflection of the amounts of zakat related to previous periods after the end of the examination and linking with the Zakat, Tax and Customs Authority.
On the other hand, the total revenues/ other (expenses) were registered in the amount of (19) million riyals compared to 18 million riyals, due to the decrease in the financing revenues in the amount of (31) million riyals.
The Board of Directors (Slushis) recommended the distribution of (8) riyals as regular cash profits, in addition to (2) riyals as exceptional cash profits to the shareholders for the year 2024 AD, and will be presented to the General Assembly at its next meeting for voting.
The company said: The total amount distributed from regular cash profits is 952 million riyals, while the amount distributed from exceptional cash profits is 238 million riyals, with a total of 1.190 billion riyals.
The number of shares due for profits is 119 million shares, while the share share of distribution for regular cash profits is 8.0 riyals per share, and for exceptional cash profits: 2.0 riyals per share, with a total of 10 riyals.
The distribution rate to the value of the nominal share is 100%, while the dividend distributions for shareholders who are owned by shares will be at the end of the second trading day that follows the annual general assembly of the company, which will be announced later.
She noted the announcement of the date of the distribution later.
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