Rasan profits jump 106% to 94.7 million riyals in 2024

The profits of Rasan Information Technology in 2024 jumped by 106.16% to 94.73 million riyals, compared to 45.95 million riyals in 2023.
According to the company’s statement on the circulation of Saudi Arabia, the net profit increased more than twice during the year 2024 AD compared to the previous year, for the following reasons:
1. An increase in the total profit margin by 8.6% (66.5% during the year 2024 compared to 57.9% during the year 2023), driven by improving operations efficiency, diversity of products, expansion, and cross -sale.
2. An increase in profits before benefits, taxes, consumption and extinguishing (EBITDA) by 27.6% compared to the previous year, as a result of expansion and improvement of operational efficiency.
3. Improving current products and launching new products in the second half of last year contributed to the growth of the fourth quarter profits for the same quarter of the previous quarter of the previous year.