Riyadh – Mubasher: Tam Development Company inked an agreement valued at SAR 16.99 million with the Ministry of Hajj and Umrah, according to a bourse disclosure.
The firm will provide the required consulting services along with digital solutions to establish and operate a project management office and implementation acceleration for the ministry for 12 months.
Tam Development highlighted that the financial impact of the deal will be reflected during the first quarter (Q1) of 2024 and Q2-24.
The awarding and signing dates of the contract were 18 October 2023 and 9 January 2024, respectively.
Last November, the listed company obtained a SAR 15 million loan from Bank Aljazira.
In the first half (H1) of 2023, Tam Development logged 100.76% higher net profits after Zakat and tax at SAR 4.76 million, compared to SAR 2.37 million in H1-22.
Earnings per share (EPS) increased to SAR 1.45 as of 30 June 2023 from SAR 0.72 a year earlier, while the revenues hiked by 64.18% to SAR 62.81 million from SAR 38.25 million.
