King Abdulaziz University Awards Naseej for Technology SAR 16.18 Million Contract

A scene showing a collaboration between a university and a technology company, featuring modern university buildings and advanced technology elements

King Abdulaziz University has awarded Naseej for Technology Company a project contract valued at SAR 16.18 million, according to a bourse filing. The contract, awarded on 10 June 2024, includes upgrading and technical support services for the academic system.

Additionally, the company recently secured a SAR 17.24 million agreement with the Ministry of Commerce.

For the 12-month period ending 31 December, Naseej for Technology reported a 39.55% annual decline in net profit, dropping to SAR 13.35 million from SAR 22.08 million. Despite this, revenues slightly increased by 0.07% to SAR 215.22 million from SAR 215.06 million in 2022. Earnings per share (EPS) fell to SAR 2.61 from SAR 4.37.

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