The net profit of the “Arab Company for Internet and Communications (Slushis)” decreased 1.5 percent to 446 million riyals (about 119 million dollars) in the second quarter of 2025, compared to 453 million riyals ($ 120.8 million) in the same quarter of 2024.
The company said in a statement to the Saudi financial market, on Sunday, that this decline is mainly due to the high costs of revenue at the amount of 171 million riyals.
However, the total revenue rose 2.6 percent to 5.7 billion riyals (1.52 billion dollars), compared to 5.5 billion riyals (1.46 billion dollars) during the same period on an annual basis.
The company attributed the increase in revenues mainly to the rise in both communication services and basic information technology, managed information technology services and operational services, despite the decrease in digital services.
During the first half of the year 2025, the company’s net profit for the company recorded a slight increase of 0.12 percent to 807 million riyals (215.2 million dollars) compared to 806 million riyals (214.9 million dollars) during the same period in 2024. The company attributed this rise to an increase in revenues and low operating expenses as a result of a decrease in sales and distribution expenses, despite the rise in public and administrative expenses.
