Al Moammar chairman expects “strong” profit by 2019-end

Al Moammar Information Systems Co. (MIS) is expected to post strong profit by the end of 2019, backed by its solid performance in the first six months of this year, chairman Ziad Mortaja told CNBC Arabia on Wednesday.

“We’re close to finalizing and announcing the Q3 2019 financial statements,” Mortaja said on the sidelines of GITEX Shopper 2019 in Dubai.

Almost 66 percent to 70 percent of MIS’ contracts were awarded by the Saudi government. “The information technology (IT) sector offers ample investment opportunities, in line with Saudi Vision 2030,” Mortaja added.

He also noted that IT contributes to developing and transforming the other economic sectors.

MIS posted a net profit of SAR 24.7 million in H1 2019, up from SAR 11.8 million a year earlier, Argaam reported.