Al Moammar’s net profit up 25% in FY 2018

Al Moammar Information Systems Co. reported a net profit of SAR 64.5 million for the fiscal year 2018, a 25 percent year-on-year increase on a general rise in the company’s business.

The company also attributed the increase in net profit to an 18 percent increase in revenue due to the new orders received by the company from private and government sectors during year 2018 compared to year 2017.

Revenue from the sale of computers, maintenance services, labor supply and other services also rose by 33 percent over the previous year.

Net income from major operations increased by 21 percent during 2018 due to the increase in revenue earned and gross profit.

Marketing expenses fell by 52 percent in 2018 as a result of the greater focus on sharing the costs with suppliers, while the provision for credit losses decreased by 83 percent compared to the same period of the previous year, to reach SAR 0.8 million during 2018, the company added.