Financial Results : Al Moammar’s net profit rises 44% in Q1 2020

Al Moammar’s net profit rises 44% in Q1 2020

22/04/2020 Argaam Exclusive

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Al Moammar Information Systems Co. (MIS) reported a net profit after Zakat and tax of SAR 16.9 million for the first quarter of 2020, a rise of 44% year-on-year (YoY), compared to SAR 11.7 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 211.22 228.04 8.0 %
Gross Income 30.57 37.61 23.0 %
Operating Income 18.26 21.92 20.1 %
Net Income 11.72 16.93 44.4 %
Average Shares 30.00 30.00 -
EPS (Riyals) 0.39 0.56 44.4 %

The increase is attributed to rise in new orders, strong backlog carried forward and growth in gross profits due to improvements in operational efficiency and provision of insource and outsource services.

 

Q1 2020 net profit fell by 54% compared to the previous quarter, driven by 28.3% decline in sales and 47% fall in total comprehensive income.

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