Sure’s annual profits decreased by 45.3% to 18.25 million riyals

2026/04/29 11:01:40 AM

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Sure’s annual profits decreased by 45.3% to 18.25 million riyals

Company achieved "Sure International Technology" A net profit amounted to 18.25 million riyals for the financial year ending on December 31, 2025, a decrease of 45.35% compared to the previous year, which net profits amounted to 33.4 million riyals.

The company said in a statement on "Saudi Arabia trading": "The reason for the decrease in net profit during the current year compared to the previous year is the decrease in operational profitability and the increase in the cost of revenues as a result of the increase in the prices of some services provided to the company’s customers during the year, as part of the company’s efforts to further enhance its market share and expand the customer base, in addition to the decrease in the company’s share of the profits from its investment in an associate company and its transformation into a loss of 2.03 million riyals."

Net profit was also affected by an increase in operating expenses by 3.70%, reaching an increase of 913 thousand riyals, as a result of an increase in general and administrative expenses by an amount of 1.22 million riyals, and an increase in expected credit losses by an amount of 1.19 million riyals, despite a decrease in selling and marketing expenses by an amount of 1.50 million riyals.

On the other hand, the increase in other revenues resulting from the reversal of allocations whose purpose had been terminated contributed to reducing this decrease.

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The total profit also decreased during the current year to reach (49.78) million riyals compared to (62.35) million riyals for the previous year, with a decrease rate of 20.17%, and this is due to a change in the revenue mix and the increase in the cost of some projects.

The operating profit also decreased during the current year to reach (24.19) million riyals compared to (37.68) million riyals for the previous year, with a decrease rate of 35.80%, as a result of the decrease in total profit and the increase in Operating expenses.