Riyadh – Arabian Internet and Telecommunication Services Company (solutions) inked a contract with National Center for Government Resources (NCGR ) at a value of SAR 444.13 million.

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

Furthermore, solutions will back NCGR's information technology management programme, according to a bourse filing.

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

The 42-month deal will commence reflecting on the company’s income statements from the third quarter (Q3) of 2023 and will continue along the contract period.

During the first three months (3M) of 2023, solutions recorded net profits after Zakat and tax amounting to SAR 304 million, higher by 7.42% year-on-year (YoY) than SAR 283 million.

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

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