Al Moammar net profit surges 63% to SAR 63.8 mln in 9M 2020

22/10/2020 Argaam Exclusive

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Al Moammar Information Systems Co. (MIS) reported an estimated net profit after Zakat and tax of SAR 63.8 million for the first nine months of 2020, an increase of 63% year-on-year (YoY), driven by growth in overall sales revenue and gross profit contribution.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	679.28	782.36	15.2 %
Gross Income	99.53	130.95	31.6 %
Operating Income	58.75	75.87	29.1 %
Net Income	39.13	63.84	63.1 %
Average Shares	30.00	30.00	-
EPS (Riyals)	1.30	2.13	63.1 %

The company’s net profit for Q3 2020 climbed 56% YoY to SAR 22.5 million, due to higher revenue from contracts and improved segment gross margins. However, selling and marketing expenses, as well as general and administration, and finance costs increased.

On a sequential basis, Q3 2020 net profit fell 7.8%.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	229.94	234.81	2.1 %
Gross Income	33.12	44.63	34.8 %
Operating Income	20.74	27.08	30.6 %
Net Income	14.39	22.50	56.3 %
Average Shares	30.00	30.00	-
EPS (Riyals)	0.48	0.75	56.3 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	319.51	234.81	(26.5 %)
Gross Income	48.37	44.63	(7.7 %)
Operating Income	26.87	27.08	0.8 %
Net Income	24.41	22.50	(7.8 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	0.81	0.75	(7.8 %)

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