"Alpha data" expects to double its sales in Saudi Arabia next year

Alpha data expects sales in Saudi Arabia to rise by about three times to form 10% of the total by next year, while planning with cautious expansion outside its basic market in the Emirates, according to Fayez Al -Aabini, the founder and CEO of the company in an interview with “Al -Sharq”. The share of the Information Technology Services Company closed in the first sessions by about 9%, which spread it in the Abu Dhabi Securities market today, on Tuesday, in contrast to General twice in the Arab markets in general, which was influenced by a global sales wave of shares. “We have opened offices in Saudi Arabia, which is a promising and large market, as well as in Qatar, which is an excellent market, but we are careful and we are going on projects in which we are the commitment to pay, and the absence of delays in signing and implementation,” according to all -Bini. “Alpha Data” is optimistic about the initial proposal of the “Alpha Data” shares through which the company collected $ 600 million Dirhams (163 million dollars) to sell 40% of its shares, the first agreement in the UAE in 2025, the destination that was the largest number of initial proposals last year, according to “Bloomberg”. The company shows an optimistic view of business expectations in a solid financial situation, especially in light of the small number of businesses that work in the region of digital transformation in the region and focus on artificial intelligence, which will be the most important motivation for its business, in addition to the absence of any debt on it, and the enjoyment of a continuous surplus of liquidity, according to all -. AL -ABINI emphasized the profit distribution policy for shareholders, which he believes is equivalent to 80% of the net profit. The group announced earlier that they aimed to distribute 130 million direct net profits expected for the financial year ending in December 2025, in two equal groups in October 2025 and April 2026. The FTSE index in Abu Dhabi Stock Exchange fell about 1.6% at the beginning of the trade, but it reduced most of its loss at the end of the session.