Company PROFILE 

 

Company Overview 

The Company provides technical and technological consulting services in the fields of telecommunications, information technology and human resources services required for these fields, management of projects, sales, and call centers. In particular, the Company provides the customer needs of personnel in the telecommunication and information technology fields.

 

Company History 

Saudi Networkers Services Company was established as a limited liability company with Commercial Registration number (1010173733) issued in Riyadh on 19/11/1422H (corresponding to 02/02/2002G).

 
Company Bylaws

 

Company ByLaws

BOARD OF DIRECTORS 

  • Bd Session Start
    2021-10-14
    Designation
    Chairman
  • Bd Session End
    2026-10-13
    Classification
    Non-Executive
  • Qualification
    -.
  • Bd Session Start
    2021-10-14
    Designation
    Managing Director
  • Bd Session End
    2026-10-13
    Classification
    Executive
  • Qualification
    Bachelor of Science in Electrical Engineering – King Fahd University of Petroleum and Minerals, Dhahran, Kingdom of Saudi Arabia, 1995G.
  • Bd Session Start
    2021-10-14
    Designation
    Board of Directors
  • Bd Session End
    2026-10-13
    Classification
    Non-Executive
  • Qualification
    Bachelor of Electronic Engineering, University of Wisconsin, USA, 1982G. Master of Electronic Engineering – University of Wisconsin, USA, 1984G.
  • Bd Session Start
    2021-10-14
    Designation
    Board of Directors
  • Bd Session End
    2026-10-13
    Classification
    Non-Executive
  • Qualification
    Bachelor of Accounting, King Abdulaziz University Jeddah 1990G Master of Science in Accounting King Saud University Riyadh 1997G. Ph.D. in Financial Accounting and Audit – University of Kent Canterbury United Kingdom 2005G.
  • Bd Session Start
    2021-10-14
    Designation
    Board of Directors
  • Bd Session End
    2026-10-13
    Classification
    Non-Executive
  • Qualification
    Bachelor of Commerce, University of Karachi, Karachi 1996G Certified Public Accountant – Institute of Certified Public Accountants of Pakistan Karachi2001G.
  • Bd Session Start
    2021-10-14
    Designation
    Board of Directors
  • Bd Session End
    2026-10-13
    Classification
    Non-Executive
  • Qualification

    Bachelor of Chemistry – King Saud University, Riyadh Diploma and Certificate in Membership of the GCC Board Institute Certificate of Performance from the International Institute for Management Development, Switzerland. Certificate in Strategic Management in Banking from INSEAD Graduate School France

SENIOR EXECUTIVES 

  • Bd Session Start
    2005-02-01
    Designation
    CEO
  • Bd Session End
    –
    Classification
    Executive
  • Qualification
    Bachelor of Electrical and Electronic Engineering, Coventry University, UK, 1992G.
  • Bd Session Start
    2011-09-21
    Designation
    CFO
  • Bd Session End
    –
    Classification
    Executive
  • Qualification
    Bachelor of Commerce -SRT University, Nandi City, State of Maharashtra, India, 2002G.

FINANCIALS 

Annual 2022
Semi-Annual 2022

ANNOUNCEMENTS 

Element List Explanation
Introduction The Board of Directors of Saudi Networkers Services Company, during its meeting on 26th March 2023, has recommended to the General Assembly a payment of dividend for the second half of 2022 as follows:
Date of the board’s decision 2023-03-26 Corresponding to 1444-09-04
The Total amount distributed SAR 14,100,000
Number of Shares Eligible for Dividends 6,000,000 Shares
Dividend per share SAR 2.35 Per Share
Percentage of Dividend to the Share Par Value (%) 23.5 %
Eligibility date Dividends will be paid to the shareholders whom are registered on Tadawul at the end of the second trading day following the General Assembly Meeting.
Date of the General Assembly Meeting will be determined after obtaining the statutory approvals from the relevant government agencies.
Distribution Date The dividend payment date will be determined after the company’s general assembly approval.
Additional Information We would like to draw the attention to the following regulation regarding the payment of dividend:      
“for non-resident investors the dividend paid by the company is subject to a withholding tax of 5.0% upon transfer to the non-resident investor or credit to its account according to the provisions of Article (68) of the Income Tax Law and Article (63) of the Implementing Regulations.”      
Saudi Networkers Services Company urges its shareholders to update their data and link their bank account numbers to their investment portfolios to ensure the timely receipt of their dividends.
Element List Current Year Previous Year %Change
Sales/Revenue 478,629,400 462,792,369 3.42
Gross Profit (Loss) 63,233,653 54,273,230 16.51
Operational Profit (Loss) 35,625,524 30,221,916 17.88
Net Profit (Loss) after Zakat and Tax 32,321,467 28,354,621 13.99
Total Comprehensive Income 35,296,769 26,033,158 35.58
Total Share Holders Equity (after Deducting Minority Equity) 82,618,240 57,313,074 44.15
Profit (Loss) per Share 5.4 4.7
All figures are in (Actual) Saudi Arabia, Riyals.
Element List Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is The reason for the increase in net profit for the current period compared to the same period of the previous year by (14%) is due to:      
– Increased revenue      
– Some additional cost savings.      
– Reversals of old accrual balances mainly related to accrued employee-related costs which are no longer considered payable which were also announced previously in first half financials)      
The increase in net profit has resulted in an increase in earnings per share to SAR 5.4 compared to SAR 4.7 in the previous year.
Statement of the type of external auditor’s report Unmodified opinion
Reclassification of Comparison Items None
Additional Information • The company has reported an Equity of SAR 82.6m compared to SAR 57.3m in last year i.e. an increase of 44%.      
• Reduction of loan utilization from SAR 40.8m in 2021 to SAR 23.0m in 2022.      
• During the year 2022, the company decided to close its subsidiary in Algeria to focus on the potential growth in the Saudi market and has reported the financial information related to the subsidiary as discontinued operations. The company discontinued operations in Algeria have no impact on the company operations in the Kingdom of Saudi Arabia. Further, the relevant numbers from the previous year have been reclassified. The reclassification also has no impact on the company’s net profit or the shareholder’s equity.
Element List Explanation
Date of Publishing the Previous Announcement Sought to be Corrected on Tadawul’s Website 2022-09-14 Corresponding to 1444-02-18
Incorrect statements in the previous announcement Total Share Holders Equity (after Deducting Minority Equity) for the current period is SAR. 66,803,890 compared to the Similar Period for Previous Year with a total of SAR. 57,313,074 with a change rate of 16.56%
Correct Statement Total Share Holders Equity (after Deducting Minority Equity) for the current period is SAR. 66,803,890 compared to the Similar Period for Previous Year with a total of SAR. 63,392,248 with a change rate of 5.38%
Element List Current Period Similar Period For Previous Year %Change
Sales/Revenue 232,579,965 235,304,677 -1.16
Gross Profit (Loss) 33,728,307 32,560,348 3.59
Operational Profit (Loss) 21,749,958 20,181,952 7.77
Net Profit (Loss) after Zakat and Tax 20,566,203 17,985,654 14.35
Total Comprehensive Income 19,478,336 18,012,522 8.14
Total Share Holders Equity (after Deducting Minority Equity) 66,803,890 57,313,074 16.56
Profit (Loss) per Share 3.4 3
All figures are in (Actual) Saudi Arabia, Riyals.
Element List Explanation
Increase (Decrease) in Net Profit for Current Period Compared to Previous Period is Attributed to he reason for the increase in net profit for the current period compared to the same period of the previous year by (14%) is mainly due to the reversals of old accrual balances mainly related to accrued employees related cost which are no longer considered payable, along with some additional cost savings.
Statement of the type of external auditor’s report Unmodified conclusion
Reclassification of Comparison Items None
Additional Information Total shareholders’ equity (including minority equity of SAR 0.08 million) at the end of the current period amounted to SAR 66.88 million, compared to SAR 57.40 million at the end of the similar period for previous year, with increase of 16.51%

IR CONTACT 

INVESTOR RELATION

Contact Name: Investor Relation Department

Address: Riyadh – Al-Orouba Main Road – Sulaymaniyah District P.O. Box 25141, Riyadh 11466

Contact Details:
Telephone: +966 11 2939595
Fax:  +966 11 2937273
E-mail:  ir@saudinetworkers.com