Meeza posted a nine-month net profit of QR46mn, up 29% on the same period last year.
Net profit margin for the period was 14.8%, increasing 0.6pp, year-on-year with earnings per share (EPS) of QR0.07.
The company’s revenue grew by 23.8% (or QR59.8mn) to reach QR311.2mn, led by growth in the IT Solution Services and Managed Services segments.
EBITDA for the period increased by 4.1% (or QR3.7mn) to reach QR92.8mn, primarily driven by revenue growth and continued cost optimisation.
EBITDA margin declined from 35.5% to 29.8% due to a higher contribution of IT Solution Services revenue to the overall revenue mix.
Meeza has a healthy financial position with a cash balance of QR258.6mn, in addition to QR1.2bn in future committed contract value.
Most notably during the third quarter, the company officially listed 100% of its shares on the Qatar Stock Exchange on August 23.
The listing came after a successful IPO that was oversubscribed and involved the first ever book building exercise in the Qatar Stock Exchange’s history.
Meeza also signed a liquidity provision agreement with QNB Financial Services (QNBFS) to maintain transaction volume and price stability.
Mohsin Nasser al-Ghaithani, Meeza acting Chief Executive Officer.
