Saudi’s Solutions inks contract with NCGR for digital transformation

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Saudi’s Solutions inks contract with NCGR for digital transformation
Saudi’s Solutions inks contract with NCGR for digital transformation

To secure digital transformation, transfer knowledge, and build capabilities internally, the listed firm will execute a unified operations managed services project for NCGR 

A contract for digital transformation has been inked by Arabian Internet and Telecommunication Services Company (Solutions) with the National Center for Government Resources (NCGR) at a value of SAR 444.13 million.

To secure digital transformation, transfer knowledge, and build capabilities internally, the listed firm will execute a unified operations managed services project for NCGR.

Solutions will also support NCGR’s information technology management programme.

26 April and 11 June 2023 were the awarding and signing dates of the agreement, respectively.

From the third quarter (Q3) of 2023, the 42-month deal will begin reflecting on the company’s income statements and will continue throughout the contract period.

After Zakat and tax amounting to SAR 304 million, Solutions, during the first three months of 2023, recorded net profits, higher by 7.42% year-on-year (YoY) than SAR 283 million.

While earnings per share (EPS) increased to SAR 2.55 from SAR 2.38, revenues jumped by 19.30% to SAR 2.67 billion in Q1-23 from SAR 2.24 billion in Q1-22.

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