Elm achieved an 84.69% growth in annual net profit to reach 567 million riyals in 2021, compared to 307 million riyals in 2020.
According to Arab Net, the company's revenues, whose shares began trading last month on the Saudi stock market, increased by 55% to 3.828 billion riyals, compared to 2.466 billion riyals. Real during the previous year.
The company said that this increase in revenues resulted from an increase in the revenues of the digital solutions sector by 21.7%, the business support solutions sector by 150.6% and the professional services sector. By 4.2%.
On the other hand, operating expenses increased by 20.7% (99 million riyals), as a result of an increase in selling and marketing expenses by 19 million riyals, and an increase in the expected credit loss expense by an amount of 55 million riyals, and an increase in general and administrative expenses by 22 million riyals, and an increase in depreciation and amortization expenses by 4 million riyals.
