Financial Results : MIS net profit up 19% to SAR 90.4 mln in 2020

MIS net profit up 19% to SAR 90.4 mln in 2020

21/02/2021 Argaam Exclusive

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Al Moammar Information Systems Co. (MIS) reported a net profit after Zakat and tax of SAR 90.4 in 2020, a 19% year-on-year (YoY) increase from a profit of SAR 76 million a year earlier.

 

The increase in net profit was attributed to a 2% YoY revenue growth and a 10.08% rise in gross profit. In addition, there was a 17% reduction in finance costs during 2020 due to excellent treasury management, including obtaining competitive interest rate and major reductions in bank facility fees.



Financials (M)

Item 2019 2020 Change‬
Revenues 997.52 674.79 (32.4 %)
Gross Income 163.82 173.23 5.7 %
Operating Income 100.20 98.30 (1.9 %)
Net Income 75.98 81.28 7.0 %
Average Shares 30.00 30.00 -
EPS (Riyals) 2.53 2.71 7.0 %

The company reported a net profit of SAR 26.6 million in Q4 2020, a 27.9% decline, compared to a profit of SAR 26.58 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 318.23 - -
Gross Income 64.29 42.28 (34.2 %)
Operating Income 49.03 22.43 (54.3 %)
Net Income 36.85 17.44 (52.7 %)
Average Shares 30.00 30.00 -
EPS (Riyals) 1.23 0.58 (52.7 %)

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