Latest news with #profitincrease
Zawya
3 days ago
- Business
- Zawya
Stc Group achieved a net profit of one million riyals, a 13.38% increase for the six-month period compared to the same period last year
Riyadh, Kingdom of Saudi Arabia - stc today announced the company's preliminary financial results for the period ending at 30 June 2025: Revenues for the 6 months period of 2025 reached 38,660 million with an increase of 2.09% as compared to the comparable period last year. Gross Profit for the 6 months period of 2025 reached 18,658 million with an increase of 6.61% as compared to the comparable period last year. Operating Profit for the 6 months period of 2025 reached 7,207 million with an increase of 2.28% as compared to the comparable period last year. Earnings before Interest, Taxes, Zakat, Depreciation and Amortization (EBITDA) for the 6 months period of 2025 reached 12,289 million with an increase of 6.10% as compared to the comparable period last year. Net Profit for the 6 months period of 2025 reached 7,472 million with an increase of 13.38% as compared to the comparable period last year. stc distributes 0.55 per share for the 2nd quarter of 2025, in accordance with the dividends distribution policy approved by General Assembly. Commenting on the results, Eng. Olayan Alwetaid, CEO of stc Group, stated that the Group continued to deliver excellent performance through its commitment to its strategy and success in capitalizing on available opportunities within the ICT sector. He pointed out that the focus on financial discipline and improving the efficiency of capital management were key factors in supporting business stability, enhancing the Group's readiness to adapt to changes, and expanding into future growth avenues with confidence and sustainability. This was reflected in the Group's financial performance, as stc achieved revenue growth of 2.1% during the first six months of the year, and an increase in gross profit by 6.6%, compared to the same period last year. Additionally, the Cost Efficiency Program contributed effectively to enhancing operational and financial efficiency, which positively impacted the company's performance, resulting in EBITDA growth of 6.1% with an increase in EBITDA margin by 3.9% to reach 31.8%, which in turn led to a notable increase in net profit by 13.4%, reaching 7.5 billion. The GCEO also emphasized that the growing demand for the Group's services is a testament to the community's trust in the efficiency of its digital solutions. This was demonstrated by the number of STC Bank customers surpassing three million within a short period since its launch at the beginning of 2025, reflecting the accelerated growth in the adoption of digital banking services and embodying the Group's growing role in developing the financial services sector. Furthermore, the GCEO praised the tremendous efforts made by the Kingdom to provide a safe and comfortable environment for pilgrims and its continuous dedication to facilitating Hajj rituals and enhancing the quality of services provided to pilgrims. He also affirmed stc Group's dedication to contributing to the success of the Hajj season through the deployment of the latest technologies and digital solutions, including advanced AI solutions, which the Group implemented to boost network efficiency within the holy sites. During the season, the Group provided record internet speeds serving more than 1.6 million pilgrims and provided services to 1.49 million stc network users, which led to exceptional results, as stc's network recorded the highest traffic hour in its history in Muzdalifah, with a 64% increase in data usage and a 129% surge in 5G network traffic compared to the previous year. Meanwhile, the user experience index rose by 25%, underscoring the network's ability to support one of the world's most significant mass crowd movements. As part of its efforts to expand coverage and provide high-speed connectivity in both urban and remote areas to bridge the digital divide and ensure the delivery of reliable high-quality communication services, stc's 5G network now covers more than 9,500 sites across the Kingdom. The Group has also continued to enhance its network technically by activating the low-frequency spectrum (600 MHz – N71) recently acquired, becoming the first operator in the region to activate this band commercially. This enables users in peripheral areas to access advanced communication services and high-speed connections, thanks to its superior coverage and penetration capabilities. In addition, stc has adopted the 5G standalone technology, which allows full utilization of advanced 5G features such as reduced latency and customized service quality through network slicing. This marks a pivotal step in enabling many vital sectors and strengthening the Kingdom's position in adopting and developing cutting-edge global technologies. In line with its commitment to maintaining its leadership in the fields of telecommunications and information technology, stc Group signed several strategic agreements over the past period. In the field of cloud computing, the Group signed a partnership agreement with Oracle for a value of more than 2 billion, aimed at accelerating digital transformation across the Kingdom, through the development of advanced AI-powered cloud infrastructure and the provision of sovereign cloud solutions via the Oracle Alloy platform, hosted at center3's data centers. Additionally, stc signed a strategic partnership with Singtel Group to collaborate across several areas, including digital platform integration, developing human capabilities, IoT solutions and expansion of subsea cable systems. These partnerships contribute to strengthening stc's position as a comprehensive digital provider across the region. Finally, stc Group released its sixth Sustainability Report for the year 2024, which showcases the progress made across sustainability, environmental and social responsibility, and governance. The report also highlights the Group's efforts to enhance environmental performance and human capital development through digital innovation and upholding the principles of effective governance and ethical excellence. In recognition of these efforts, stc's ESG rating was upgraded from 'BBB' to 'A' in the latest MSCI ratings, reflecting the Group's commitment to adopting the highest local and international sustainability standards and practices. These initiatives reaffirm the Group's role as a key enabler of the national economy by supporting job creation, business growth, talent and skill enhancement, community well-being and the advancement of digital infrastructure. stc Group remains committed to advancing its sustainability efforts and continuing to maximize its positive impact on society, the environment and the economy by adopting sustainability principles across its various business areas.
RNZ News
22-05-2025
- Business
- RNZ News
Will your My Food Bag investment ever recover?
My Food Bag has reported a 5 percent profit increase in the most recent full year, but shareholders could be waiting a while for shares to return to their initial list price. Photo: RNZ My Food Bag has reported a positive year in its latest update, but shareholders are being told they could have a long wait ahead of them for shares to return to their initial list price. My Food Bag listed on the NZX in 2021, in what it said at the time would be the largest IPO by amount raised since 2014. Shares were issued at $1.85 each, including to many customers. But the price dropped in initial trading and has largely continued to decline from there. Shares were trading for 20c on Thursday afternoon, after chief executive Mark Winter told the market it had lifted its profit 5 percent in the most recent full year. Greg Smith, head of retail at Devon Funds, said the prospect of the share price recovering to anything like its list price was "incredibly remote". "It was a classic private equity exit, which has seen a lot of retail investors lose out. The stock was floated in peak conditions, as lockdowns were in force, and the idea of everyone ordering meal kits on a regular basis reinforcing the hype. The firm actually did deliver on its prospectus forecasts in the early days, but many investors extrapolated a situation that as we know now was only ephemeral," he said. The bulk of the shares sold came from private equity firm Waterman Capital, with smaller parcels from founding shareholders Cecilia and James Robinson and Theresa Gattung. "At under three times earnings (EBITDA) the stock seems very cheap, however investor confidence is pretty shot, and the question is how does the company deliver a sustainable earnings growth path? "Consumer spending pressures will ease at some point, but it has tried to expand overseas and that didn't work, competition in NZ has also intensified. As management also notes they have 'right sized' the business so it would be hard to see the shares ever getting back to former glories." Jeremy Sullivan, an investment adviser at Hamilton Hindin Greene, agreed it would be tough. "Never say never, although it's a long way off. There's no doubt that a lot has happened since they listed, including Covid, high food price inflation and rising interest rates. These factors have certainly hampered demand. "However, with rates starting to fall and people beginning to feel the pressure come off, things might start to turn around for the company, [Thursday's] announcement is an encouraging sign in that direction." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Times
22-05-2025
- Business
- Times
BT dials up dividend and predicts rising profits
BT has promised 'sustained' revenue growth from next year and an even stronger rise in profits, as it continues to slash costs in an effort to turn around the 179-year-old telecommunications group. The FTSE 100 company said adjusted revenue for the current financial year would be flat at £20 billion before returning to growth. It also guided towards adjusted earnings of between £8.2 billion and £8.3 billion, before growing ahead of the top line from next year, and reiterated a target to produce normalised free cashflow of £3 billion by the end of the decade. Revenue at the former phone monopoly declined 2 per cent last year to £20.4 billion, at the bottom end of guidance, weighed down by weaker handset sales and a poorer
Yahoo
15-05-2025
- Business
- Yahoo
Thomas Cook India Ltd (BOM:500413) Q4 2025 Earnings Call Highlights: Record Profits and ...
Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Thomas Cook India Ltd (BOM:500413) reported a robust financial performance with a 19% increase in revenue and a 15% rise in profitability for the full year. The company achieved a 51% increase in quarterly profit, marking the highest ever quarterly profit for this specific quarter. The financial services segment reported a 14% growth in revenue with improved margins, aligning with market guidance. Sterling Holiday Resorts, a subsidiary, achieved a 10% revenue growth and maintained a strong EBITDA margin of 34%, reflecting successful expansion and operational efficiency. The company has successfully expanded its distribution network, adding 21 new locations, and continues to invest in digital tools to enhance customer engagement and operational efficiency. The DEI segment faced challenges throughout the year, including geopolitical issues and operational difficulties, impacting overall performance. The company experienced a dip in margins in the foreign exchange segment due to front-loaded investments, affecting short-term profitability. Despite growth in the travel segment, the corporate travel side faced slower offtake due to budget freezes and tariff impacts, affecting quarterly performance. The closure of US operations in the DEI segment due to high costs indicates challenges in maintaining profitability in certain markets. Seasonality and external factors, such as geopolitical tensions and economic conditions, continue to pose risks to consistent growth across all segments. Warning! GuruFocus has detected 3 Warning Signs with DTRUY. Q: What is the guidance for room addition for Sterling Holiday Resorts in FY 26? A: Vikram Lalvani, MD and CEO of Sterling Holiday Resorts, stated that in FY 525, they added 14 resorts, amounting to about 600 to 700 rooms. In FY 526, they plan to open another 14 to 15 resorts, with room inventory expected to come close to 4,000. Q: What is the expected growth rate for Thomas Cook India Ltd's DI segment over the next couple of years? A: The management expects the DI segment to grow at a compounded rate of around 12% annually. Q: How is Thomas Cook India Ltd addressing the challenges faced by DEI in FY 2025? A: KS Ramakrishnan, CEO of DEI, explained that despite challenges such as geopolitical issues and the closure of US operations, DEI has implemented strong cost controls and enhanced technology. They have renewed over 50 accounts with a total value of $34 million and acquired 30 new accounts, indicating a robust outlook for FY 26. Q: How does Thomas Cook India Ltd plan to maintain or improve occupancy levels with the aggressive expansion of Sterling Holiday Resorts? A: Vikram Lalvani mentioned that the company will continue to expand in the leisure space domestically, focusing on strengthening their presence in wildlife, hill, and spiritual segments. They are also targeting tier 2 and tier 3 towns where there is a mix of leisure and business demand. Investments in technology and distribution systems will support this expansion without adding significant fixed costs. Q: What is the impact of technology on Thomas Cook India Ltd's business, and how are they leveraging AI? A: Mahesh Ayer, Managing Director and CEO, stated that technology is an enabler for seamless customer interaction and operational efficiency. They are investing in AI for customer interactions and corporate travel management, aiming to enhance customer experience and improve productivity. Technology is used to drive customer conversions and improve turnaround times in B2B operations. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
