Al Moammar Information Systems Co. reported a net profit after Zakat and tax of SAR 41.3 million for the first six months of 2020, a 67% increase year-on-year (YoY), compared to SAR 24.7 million in the same period a year earlier.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 449.34 | 547.55 | 21.9 % |
| Gross Income | 66.42 | 86.32 | 30.0 % |
| Operating Income | 38.01 | 48.79 | 28.4 % |
| Net Income | 24.74 | 41.34 | 67.1 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.82 | 1.38 | 67.1 % |
The company attributed the increase to higher sales revenue and savings on financial cost.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 238.12 | 319.51 | 34.2 % |
| Gross Income | 35.84 | 48.37 | 34.9 % |
| Operating Income | 19.75 | 26.87 | 36.0 % |
| Net Income | 13.01 | 24.41 | 87.6 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.43 | 0.81 | 87.6 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 228.04 | 319.51 | 40.1 % |
| Gross Income | 37.61 | 48.37 | 28.6 % |
| Operating Income | 21.92 | 26.87 | 22.6 % |
| Net Income | 16.93 | 24.41 | 44.2 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.56 | 0.81 | 44.2 % |
Net profit after Zakat and tax in Q2 2020 surged 87.6% YoY to SAR 24.4 million on 34% growth in revenue from contracts. The company also cited gross profit of SAR 48.3 million in the second quarter.
Selling and marketing expenses stood at SAR 2 million in Q2 and general and administrative expenses reached SAR 14.5 million in the same period.
On a quarterly basis, net profit increased 44%, driven by a 40% rise in sales revenue and higher gross profit.
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