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.
| 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%.
| 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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