Riyadh – Mubasher: Sure Global Company renewed its credit facility agreement with Saudi National Bank (SNB) at a value of SAR 36.80 million, according to a bourse filing.
Through the loan, the company will be able to finance current and future projects, in addition to issuing bank guarantees and a letter of credit.
Meanwhile, the Sharia-compliant facility deal is secured by a promissory note valued at SAR 40.48 million. It holds a six-month duration period from the date of obtaining the funding on 22 August 2023.
Last year, Sure Global obtained a SAR 25 million loan from the Arab National Bank (ANB).
During the 12-month period that ended on 31 December 2022, the listed firm generated net profits after Zakat and tax worth SAR 24.07 million, an annual growth of 32.82% from SAR 18.12 million.
Revenues increased by 11.99% to SAR 207.67 million last year from SAR 185.43 million in 2021, while the earnings per share (EPS) went up to SAR 4.69 from SAR 3.56.
